Final Thoughts
Final Thoughts
Written by John Packard
September 2, 2013
When is Sunday really Monday and Tuesday suppose to be Wednesday…? One of the changes SMU is making is to date our newsletters on the day they are actually produced and sent. So, you will note that tonight’s newsletter is dated, Tuesday, September 3rd as opposed to Wednesday, September 4th.
SMU will produce three Executive Newsletters per week – on Sunday evening, Tuesday evening and Thursday evening with the exception of holidays and the week between Christmas and New Years.
We are conducting our early September steel market analysis this week. Invitations were sent out at 7:30 AM on Tuesday morning and reminders will go out at 8:00 AM ET tomorrow (Wednesday). Please take a moment to find your invite, click on the link and fill out our questionnaire.
What to watch this week: scrap prices for the month of June, SMU Steel Buyers Sentiment Index, lead times and mill negotiations.
As always your business is truly appreciated by all of us here at Steel Market Update.
John Packard
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Tariff-related noise aside, there is one basic factor keeping buyers on the sidelines. Despite recent declines, HR prices remain at historically high levels. And there is no obvious support to keep them there.
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United Airlines raised eyebrows earlier this month when it provided two forecasts for 2025 – one assuming a relatively stable economy and another assuming a recession. The reason? Uncertainty around the impact of President Trump’s policy shocks on the broader economy. And it sometimes feels like we’re seeing a battle between those two narratives (stable vs recession) play out within in the pages of this newsletter.
Final Thoughts
Despite some scary headlines lately (especially about Trump potentially firing Fed Chair Jerome Powell) this is not October 2008 (financial crisis) or March 2020 (onset of the pandemic). But it sure seems like we’ve taken a relatively strong economy and poured a thick sauce of uncertainty over it.
Final Thoughts
I put some of our survey data through ChatGpt, with interesting results.
Final Thoughts
Nearly 50% of respondents to our latest survey thought hot-rolled coil prices have already peaked. And where will those prices be two months from now? Responses were decidedly split on that question.