Steel Products
Final Thoughts
Written by John Packard
March 18, 2013
Steel Market Update will begin our mid-March steel survey on Monday morning. Invitations will be sent out at approximately 8 AM ET. If you receive an invitation please spend a few moments to click on the link – which will take you to SurveyMonkey.com – to complete our survey. Your opinions are valuable to our understanding of the flat rolled steel market and we appreciate the few moments it takes to complete our survey.
A reminder of our upcoming Managing Price Risk workshop – which is dedicated to understanding the hot rolled coil (HRC) futures and options markets as well as the ferrous scrap futures market based on Midwest #1 busheling (BUS). Our workshop assists in the understanding as to how to utilize derivatives either in your own company or as a way of protecting one of your customer’s business. It is also important to understand when the product is not a good fit for your organization. Our next workshop will be in New York City at the NYMEX (CME Group) building in lower Manhattan. Details can be found here or by visiting the events section of our website: www.SteelMarketUpdate.com.
We are hopeful that we will be able to make an announcement regarding our next Steel 101 workshop (which has a waiting list) a little later this week. An executive from one of the companies which sent delegates to our last Steel 101 workshop told me late last week, “Our group came back with rave reviews of your latest Steel 101 session. They learned a lot that we never take the time to cover. Also spoke with some new customers in the HVAC industry in the Northeast who read you religiously. You are gaining quite a good reputation. Lots of people appreciate what you do – as we do. Keep up the good work!”
As always we want to take a moment to thank our members for their support. Both your business and kind words are greatly appreciated.

John Packard
Read more from John PackardLatest in Steel Products

CRU: EC to toughen steel safeguards
The European Commission proposes cutting its steel import quota by almost half, with volumes exceeding the limit facing 50% duties. The region’s steel industry welcomes the move, while other steel-producing nations fear the consequences. CRU published an insight before this announcement, noting that more restrictive trade policy could significantly raise the cost of marginal supply […]

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.