Final Thoughts

Final Thoughts
Written by John Packard
November 12, 2013
As of 8 PM ET on Tuesday evening – here is where we are regarding the launch of our new website. We are integrating the PayPal system into the new site and the design team is reworking the Events section and the way we will take payments for our workshops, conferences, etc. These last two items must be done correctly before we can launch. We are being told the work will continue through the night and…
Early on Wednesday morning we will begin the process of moving all of our existing members from the old website to the new website. Shortly after that process begins the search engines will be redirected to our new website. The search engines can sometimes take up to 24 hours to complete the switch. We believe it will be done with the first few hours.
There is the chance that you will actually see the new website prior to getting your new login information. If that happens be patient and we will get it to you. We have a large team inputing each individual’s name, email address and important data and then creating a unique password.
When the entire process is complete – and it could take a number of hours to finish – we will send a group email advising everyone that all accounts have been moved. We will also include instructions on white listing the inbound email address (which is not changing from our current email address), though nothing will really change from an email delivery standpoint when we first come online.
When we move you to the new site we will generate an email to each of you once we have completed moving your account. In that email will be a temporary password. Your existing login and password information will no longer work. Once the site is up and you attempt to login for the first time you will receive a prompt to create a new password.
We are coming up on a Wednesday so you will have time to 1) have your browser connect you with the new site vs. the old site, 2) give you a chance to change your password, 3) give you a chance to kick the tires and look around 4) run out an tell your friends to go look at our new site.
This has been a long process that I hope if rewarding for our existing members and a beacon for our prospective customers.
As always your business is truly appreciated and we continue to invest in our company and products on your behalf.

John Packard
Read more from John PackardLatest in Final Thoughts

Final Thoughts
We just wrapped another Steel 101 Workshop, where you take what you learned in the classroom into the steel mill.

Final Thoughts
Steel equities and steel futures fell hard after news broke earlier this week that the US and Mexico might reach an agreement that would result in the 50% Section 232 tariff coming off Mexican steel. The sharp declines didn’t make much sense, especially if, as some reports indicate, Mexico might agree to a fixed quota. They didn't make sense even if steel flows between the US and Mexico remain unchanged.

Final Thoughts
Even before the news about Mexico, I didn’t want to overstate the magnitude of the change in momentum. As far as we could tell, there hadn’t been a frenzy of new ordering following President Trump’s announcement of 50% Section 232 tariffs. But higher tariffs had unquestionably raised prices for imports, which typically provide the floor for domestic pricing. We’d heard, for example, that prices below $800 per short ton for hot-rolled (HR) coil were gone from the domestic market – even for larger buyers.

Final Thoughts
I want to draw your attention to SMU’s monthly scrap market survey. It’s a premium feature that complements our long-running steel market survey. We’ve been running our scrap survey since late January. And over just that short time, it’s become a valuable way not only for us to assess where scrap prices might go but also to quantify some of the “fuzzy” indicators - like sentiment and flows - that help to put the price in context.

Final Thoughts
I think there is an obvious case for sheet and plate prices going higher from here. That’s because, on a very basic level, the floor for flat-rolled steel prices, which is typically provided by imports, is now significantly higher than it was a week ago.