Final Thoughts
Final Thoughts
Written by John Packard
January 22, 2014
For those of you who have not yet taken the time to go to our new website, log in for the very first time and kick the new tires, play with the steering wheel and take it for a spin – we highly recommend that you do so soon. We know technology can be a little scary at times and I’ve managed to use a few choice words on our own website from time to time (especially as we were building it). But, we think the value of what is contained in the website will over-ride your desire to shy away from it. At this point, if you haven’t logged into the website, you will need a new user name and password. It takes us but a few minutes to create both for you. Send us an email: info@SteelMarketUpdate.com and we will create what you need to get into the website. If you would like some assistance in logging in or want to learn more about how to navigate the website please let us know and we can assist with that as well.
One of the main reasons you want to have the option of signing into the website is so you can view the interactive graphics which otherwise only show up as a big empty white space in the emailed newsletter. The best way to read the newsletter is on the website.
We have been picking up a large number of Premium Level members. We are finding a number of our corporate accounts want to upgrade at least one of their members to Premium and we have a number of single members who want to upgrade. If Premium is of interest to you or your company please contact myself or Diana at 800-432-3475 or John@SteelMarketUpdate.com or Diana@SteelMarketUpdate.com and we will explain your options and what costs are involved in upgrading.
We have registered a few more people for our upcoming Steel 101 workshop in Mobile. As with just about all of our workshops we have companies coming from coast to coast in order to attend. We still have a few spots left and you can learn more on our website (and you don’t need to log in to do so): www.SteelMarketUpdate.com. Registration is also on the website or you can contact our office: 800-432-3475. SMU member companies receive a $100 per person discount and companies who send more than one person to this workshop receive a $100 per person discount.
With fingers crossed we hope the weather in Mobile will be much better than what we have been seeing in much of the North and even into parts of the South over the past month.
If you are interested in advertising with Steel Market Update either on our newsletter or website (or both) you can learn more by requesting a Media Kit which you can do by email or you can click on the link provided.
If you would like to know what is going on within the steel industry you may be interested in viewing our Calendar which you can do by clicking on the link provided or looking for the link on our website (one of which is located at the bottom of our website).
As always we want to take this opportunity to thank our members for their business as it is truly appreciated. For those of you on a trial, please do not hesitate to ask questions about our newsletter(s) and website. Steel Market Update tries to be as responsive as possible to both our members and those who are interested in becoming new members. I can be reached at John@SteelMarketUpdate.com or by phone at 800-432-3475.
John Packard, Publisher
John Packard
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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.