Final Thoughts
Final Thoughts
Written by John Packard
February 10, 2014
For those of you watching the weather you may be aware that Atlanta is suffering through another winter weather event. Since our offices are located north of Atlanta that means we are suffering as well. The good news for me personally is I decided to spend a few days in Florida after attending the Port of Tampa Steel Conference this past week. As the weather has moved in our date to return to North Georgia keeps moving out….
Thanks to our staff for keeping everything together in my absence. The weather forecast for our area tomorrow is 4″ to 6″ inches of snow. Something tells me I won’t be back in my office tomorrow – maybe on Thursday.
A note about pricing and momentum. We are in a market where not all mills are equal. The most aggressive mills have been the EAF producers while the integrated mills have had less to sell in the spot market. Even so, we are hearing AK Steel has developed some holes in hot rolled and this has been one of the signs I have been waiting for prior to moving our SMU Price Momentum Indicator to Lower from Neutral.
We have heard that ArcelorMittal is suffering from some cold weather related production issues which has been keeping them out of the spot market (or at the higher end of the spot market). As one of our sources stated in our pricing article, the weakness is with conversion and some mini-mills. Not so much with the integrated mills.
Popping to another subject, a reminder that our next Steel 101: Introduction to Steelmaking & Market Fundamentals workshop will be held at The Henry Hotel in Dearborn, Michigan and will include a tour of Severstal Dearborn. This will be our second tour of the Severstal facility and they did an exceptional job the first time around. Space is limited for this program so you will want to register early. You can do so on our website or feel free to contact our office with any questions you might have (800-432-3475 or info@SteelMarketUpdate.com).
As always your business is truly appreciated by all of us here at Steel Market Update.
John Packard
Read more from John PackardLatest in Final Thoughts
Final Thoughts
We’re in the dog days of summer, and the question is whether the market will improve as lead times stretch into September. Your answer to that question might depend on where you are in the supply chain. And producers, it seems to me, are a lot more optimistic than consumers at the moment.
Final Thoughts
We're less than a month out from Steel Summit 2025. Have you already signed up?
Final Thoughts
A scrap trader looks back fondly at blast furnace steelmaking.
Final Thoughts
Is this just a severe case of the summer doldrums? Will demand improve in the fall, as it often does? Or has uncertainty around tariffs and the economy created a more lasting impact?
Trump says Canada deal might not happen: Report
President Trump said a negotiated deal with Canada might not occur, and all existing tariffs, along with those set to take effect soon, will stay in place, according to media reports.