Final Thoughts
Final Thoughts
Written by John Packard
January 30, 2014
Severstal is celebrating 10 years of ownership of the former Rouge Steel plant in Dearborn, Michigan. The company purchased Rouge Steel for $290 million in 2004 and saved the mill from going out of business. Severstal has invested more than $1.7 billion and dramatically altered the face and the future of the mill. Steel Market Update wishes all of our friends at Severstal continued growth and prosperity.
By coincidence our next Steel 101: Introduction to Steelmaking & Market Fundamentals workshop will be held in Dearborn, Michigan at The Henry (hotel) and will include a tour of the Severstal Dearborn fully integrated steel mill. Our last tour of the Dearborn mill was outstanding and the highlight for everyone – including our instructors who have been through many mills over the years. Class size is limited and we already have begun taking registrations. The dates will be May 6th and 7th, 2014. There is much more information available on our website including how to register.
I was asked today if there is any room left in our Mobile, AL Steel 101 class – the answer is yes, we usually plan on picking up a couple of late comers. So, if you are in the decision making mode please contact Diana in our office at 800-432-3475 and she can assist in getting you registered for the workshop.
We did send out a Premium Supplement Newsletter yesterday for our Premium Level members. If you have been considering upgrading to Premium and would like to see yesterday’s Premium Supplement please send an email either to Ryan@SteelMarketUpdate.com or JohnTemples@SteelMarketUpdate.com.
Enjoy Super Bowl Sunday.
As always your business is truly appreciated by all of us at Steel Market Update.
John Packard, Publisher
John Packard
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Final Thoughts
A short tour of key dates in the Nippon/USS deal, and what the future might hold.
Final Thoughts
I sort of expected big news last Friday and over the long, Memorial Day weekend. Because that's become more the norm than the exception for steel this year. Sure enough, Trump posted on Truth Social on Friday afternoon that he had given his blessing to a “partnership” between Nippon Steel and U.S. Steel. And then over the weekend we had market moving new on tariffs, this time involving the EU.
Final Thoughts
We're going to have to wait a bit longer for the final outcome of the Nippon/USS deal.
Final Thoughts
Sure, demand isn’t as good the market had hoped it would be earlier this year. But assuming it doesn’t fall of a cliff, buyers will have to restock at some point. And that might give domestic mills enough leverage to raise prices again.
Final Thoughts
While I would anticipate market sentiment to pivot and improve if all the questions around tariffs were answered, that still leaves us with a few other factors.