President and CEO Gregg J. Mollins of Reliance Steel & Aluminum said during a July 21 earnings conference call. “Inventories are low … everybody has been keeping inventories close to their vest. That’s the absolute right thing to do; that’s certainly what we’ve done.”
Service center steel inventories decreased 16.5 % from June 2015. At June shipping rates, that represented 2.3 months of supply, down from 2.6 percent the previous year.
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