Steel Products
Final Thoughts
Written by John Packard
January 4, 2013
Our Fiscal Cliff article does not tell the whole story – read Andre Marshall’s HRC Futures article to get more details – there are new taxes (or old taxes come back to live again) which most, if not all, U.S. citizens will pay. The question is how will the impact on our individual paychecks affect our spending – especially on those big ticket items steel companies count on.
Scrap – early information from SMU sources are pointing toward sideways to minimal scrap increases in the Midwest and minor increases in the East. We are a long way away from having enough data to call specific prices for the month of January – but, sentiment does not appear to be receptive for higher prices.
Speaking of Sentiment – our first steel survey is underway and will continue through the end of the day on Friday. We will have complete details regarding our findings in Sunday evening’s edition of this newsletter including our latest SMU Steel Buyers Sentiment Index.
Our special 14-month offer for new members expired at the end of the day on Thursday. However, if we have any procrastinators out there we will take new customer orders for one more day (Friday, January 4th). You can contact Brett in our office: 800-432-3475 or send an email to Diana@SteelMarketUpdate.com or Jack@SteelMarketUpdate.com
As always your business is truly appreciated.
John Packard
Read more from John PackardLatest in Steel Products
US and Canadian rig counts stabilize
US counts continue to hover just above historic lows, while Canadian figures remain comparatively healthy.
Plate market sources critique mill hikes amid current market conditions
Following spot market plate price increase notices issued by domestic mills this past week, participants are contemplating the rationale behind the increases and whether they will stick. Some sources anticipate that current market conditions will shift in November and believe the increases may set a new "pricing floor."
Oregon Steel Mills lifts plate prices by $60/ton
Oregon Steel Mills has joined other producers in announcing a price increase of at least $60 per short ton on steel plate.
CRU: Construction of pilot plant for green steel process starts
Voestalpine and partners have begun building an industrial-scale Hy4Smelt demonstration plant in Linz, Austria, which they hope will become key in the decarbonization of steel.
Rig count increases in the US and in Canada
Oil and gas drilling activity increased this week in the US and Canada for the third consecutive week, according to the latest Baker Hughes rig count data. US counts continue to hover just above historic lows, while Canadian figures remain comparatively healthy.