Steel Products
Final Thoughts
Written by John Packard
January 14, 2013
I want to extend our apologies for the “test” newsletter which was sent out to our members by our website developers on Saturday. We received a few emails surprised at some of the dated headlines. Seems like a few people don’t believe “stability” is in the cards for the current market.
I received a number of emails from the financial community asking for me to comment on a well-known analyst pegging the low end of the current market at $575 for large buyers. SMU has not collected data at the $575 level as of late last week. We have collected data below $600 per ton on hot rolled but not enough to call the market as being in free fall. We will have to wait and see what this week brings…
Our new price assessments come out on Tuesday evening.
As always we thank you for your business as it is truly appreciated.
John Packard
Read more from John PackardLatest in Steel Products
Tariffs, ample domestic supply cause importers to shift or cancel HR import orders
Subdued demand is causing importers to cancel hot-rolled (HR) coil orders and renegotiate the terms of shipments currently enroute to the US, importers say. An executive for a large overseas mill said customers might find it difficult to justify making imports buys after US President Donald Trump doubled the 25% Section 232 tariff on imported steel […]
Drilling activity slows in the US, grows in Canada
Oil and gas drilling activity was mixed this week, according to Baker Hughes. US totals slipped for a sixth straight week, while Canada saw a slight bump in activity.
Commerce finds no Korean OCTG shipments below market value
US Department of Commerce (Commerce) review found no South Korean oil country tubular goods (OCTG) exporters or producers sold products below market value
Drilling activity slows further in US and Canada
Oil and gas drilling activity declined again this week in both the US and Canada, according to Baker Hughes.
SMU Community Chat: Zekelman calls for more support for steel consumers
“Unless the administration actually gets serious about levelling the playing field… for consumers of steel, then everything they've done on the steel side is useless."