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
CMC to open rebar fabrication facility in Ohio
Longs producer and metal recycler CMC plans to open a new rebar fabrication plant in Akron, Ohio.
US and Mexico take action to curb ‘unfair’ trade
The US and Mexico announced measures on Wednesday to prevent tariff evasion and protect North America’s steel and aluminum industries.
Final thoughts
First off, we hope everyone had a safe and happy July 4th holiday, with fireworks seen and BBQs attended. Many parts of the country are quite toasty at the moment, signaling that, yes, summer has indeed arrived. And looking at our most recent survey results, the summer doldrums have arrived as well.
Active rig counts recover in US, slip in Canada
US drill rig activity moved back up last week after drifting lower for four straight weeks. Meanwhile, Canadian counts slipped for the first time after a seven-week rally, according to the latest data from Baker Hughes.
AISI: US steel shipments up in May from April, off from 2023
Domestic steel shipments increased in May month over month but have fallen on-year.