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

SMU Week in Review: September 1-5
Here are highlights of what’s happened this past week and a few upcoming things to keep an eye on.

HR Futures: Market finds footing on supply-side mechanics
As Labor Day marks the transition into fall, the steel market enters September with a similar sense of change. Supply-side fundamentals are beginning to show signs of restraint: imports are limited, outages loom, and production is capped, setting the stage for a market that feels steady on the surface but still unsettled underneath.

Beige Book: US markets remain cautious amidst volatile pricing environment
Sluggish economic activity across the US was largely attributed to uncertainty caused by tariff policies and growing cost pressures, according to the US Federal Reserve’s (The Fed) latest Beige Book report. The Fed’s latest economic report, posted on Sept. 3, consists of economic findings from the six weeks preceding Aug. 25 throughout 12 districts. Economic […]

Rig count dips again in both US and Canada
Oil and gas drilling activity waned in the US and Canada this past week. Ticking own for the second straight week in both regions.

Steel caucus pushes US trade officials to maintain strong S232 program
The bipartisan Congressional Steel Caucus is pushing for US officials to maintain a robust Section 232 program as they negotiate trade deals with America's trading partners.