Reliance Steel raises forecast
From Times Staff and Wire Services
Reliance Steel & Aluminum Co., the largest U.S. metals distributor, boosted its second-quarter earnings forecast as carbon-steel prices advanced.
The Los Angeles company raised its forecast to $2 to $2.10 a share from $1.50 to $1.60 as prices for carbon-steel products “increased more significantly and more rapidly than we had anticipated,” Chief Executive David H. Hannah said.
