Final Thoughts
Final Thoughts
Written by John Packard
February 7, 2014
One of the interesting tidbits that came out of the ArcelorMittal conference call last week was their intention of taking down the #7 blast furnace at Indiana Harbor for two months beginning in May.
They also discussed the purchase of ThyssenKrupp which they feel will be completed by the end of March (end of 1st Quarter). They have not been able to communicate directly with the commercial department at the mill but noted that TK Alabama was running at approximately 3 million metric ton per year level. The mill is essentially full at approximately 4.2 million metric tons due to the stainless conversion agreement they have. It appears AM does not intend to back off any tonnage. They are targeting automotive and energy sectors as their primary focus coming out of the gate.
John Packard
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Final thoughts
I think all of us know that sometimes courtships go wrong. A misplaced word or deed and soon things can go sideways, and not in the prices sense. Such could be the case with Japanese steelmaker Nippon Steel’s play for U.S. Steel.
Final thoughts
We’re starting to see some impacts of the big trade case filed last week against imports of coated flat-rolled steel from 10 nations. Namely, we’ve heard that a range of traders have stopped offering material from Vietnam. An alleged dumping margin of nearly 160% will do that. Especially amid chatter of critical circumstances.
Final thoughts
The phrase “political football” has been tossed around a lot lately. (Pun probably intended.) For the humble journalists at SMU who thought the week following Steel Summit would prove a quiet one… the news cycle had other ideas
Final thoughts
Sheet prices didn’t roar back after Labor Day. But steel market news sure came out of the gate strong (or maybe chaotically is the better way to put it). First, the nearly $15-billion proposed sale of U.S. Steel to Nippon Steel exploded into the news. And when I say exploded, I mean that all sides seem to be escalating things now.
Final thoughts
Welcome back from Labor Day, from Steel Summit, and from whatever fun you might have had over the long weekend. Personally, I enjoyed camping with friends and family near Starved Rock. No one starved, there were no major injuries, and we enjoyed the many splendors of Mystical Fire. (Speaking of which, does that have industrial uses? But I digress.)