Final Thoughts
Final Thoughts
Written by John Packard
December 16, 2013
For those of you going to New York City for the AHR Expo – I will be attending on Tuesday, January 21st and Wednesday, January 22nd. If you would like to meet with me while I am in New York, please shoot me an email: John@SteelMarketUpdate.com and I will do my best to work you into my schedule.
For those of you who have been on our new website – first, thank you – and second, if you see anything which appears amiss, please send us an email: info@SteelMarketUpdate.com. We have found a few issues and expect with a website of this size and complexity that we will find a number over time.
For those of you who had signed up for the RSS feed off our old website, we have spoken to our technical team and we are working to see if we can re-connect the old RSS feeds to the new one so you will get notifications of our Blog postings.
We will be contacting many of you over the coming days as we want to make sure you are receiving our newsletters, get you signed into the new website if you have not done so already and assist you with any questions or suggestions you might have regarding the new website. We intend to do this by phone so please take or return our calls.
If you have yet to log into the new website and need a login and password, please send us an email and we will get you a new one: info@SteelMarketUpdate.com
For those of you resisting going to the website, you are missing seeing some of the data displayed in our newsletters. In tonight’s issue we used interactive graphs in the pricing article as well as raw steel production. You can read the newsletter online easiest by doing one of the two following things:
First, click the Read Full Text link which is located just below our logo at the top of this newsletter. If you log in once you get there and click the “remember me” box – you shouldn’t need to log in when you return at another time (unless you click on logout). Once you log in you can read the full newsletter from top to bottom as you have done in the past – only with the graphics being displayed.
Second, you can go to the website, log in and scroll over Newsletters. In the sub-menu will be a tab for “Executive Archives” – if you click on it there will be links to every newsletter. They can all be read top to bottom.
As Brett mentions in his article this evening regarding new content on the website – we will be adding more content over the coming weeks – especially for our Premium Level members. If you would like to learn more about what comes with a Premium Level membership please drop me an email and I will contact you. I can be reached at: John@SteelMarketUpdate.com.
A number of companies have expressed interest in renewing their memberships prior to January 1, 2014 when our prices will change. We are allowing our existing member companies that expire sometime during 2014 the option of paying in advance. You can do so by contacting Diana in our office: 800-432-3475. Our new rates are posted on the website.
A reminder that our Steel 101: Introduction to Steelmaking & Market Fundamentals workshop is open for registration. The workshop will be in Mobile, Alabama on February 4th and 5th and will include a tour of the SSAB plate and hot rolled mini-mill (EAF). Information and registration is on our new website: www.SteelMarketUpdate.com or you are welcome to contact our offices at: 800-432-3475.
As always your business is truly appreciated by all of us here at Steel Market Update.
John Packard
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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.
Final Thoughts
We're about to hit 50% Section 232 steel tariffs. What could happen?
Final Thoughts
With higher tariff rates on steel and aluminum set to go into effect on Wednesday, June 4, a new round of chaos across the supply chain is likely in store. Expect a significant impact on manufacturers and metal fabricators. But even before the latest round of Trump-tariff whiplash on Friday evening, there was a lot of interesting data coming out of SMU's steel-market survey.