18
Feb
13:00
Reliance begins 2021 with construction uptick
US service centre chain Reliance Steel & Aluminum saw its 2020 profits fall to just over half of their 2019 levels, though continued strength in non-residential construction is leading to a strong start to 2021.
Reliance earned $369.1 million on sales of $8.81 billion in 2020, down from earnings of $701.5m on sales of $10.97 billion in 2019.
“We achieved record gross profit margins for both the full year and fourth quarter of 2020,” sa…
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Very good overview of the weekly steel market.
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