Final Thoughts
Final Thoughts
Written by John Packard
February 12, 2014
We will hopefully have information and a date for a new workshop we have under development. The new workshop is tentatively being called: Managing Price Risk: Strategies & Execution. The workshop will be for those who already have some knowledge of hot rolled coil (HRC) and busheling (BUS) futures and options trading. Our intention is to provide a workshop for those who want to know more about the various strategies for protecting inventory values, protecting profits or offering long-term firm pricing through the use of futures and options trading. We already have a waiting list so our goal is to have the workshop – which at this time we are forecasting to go over two half days and the first to be held at the CME in Chicago.
We will publish one of our Premium Level newsletter supplements on Friday for our Premium Level members.
The OCTG dumping case decision was postponed today due to the winter weather in Washington, D.C. We should get a decision early next week.
I will be back in the office on Monday after having been stranded in Florida due to the weather in North Georgia (I can tell I am not getting much sympathy for that one). My next trip will be to Austin, Texas for the FMA Tolling Processing conference.
As always your business is truly appreciated by all of us here at Steel Market Update. Thank you for your kind words and recommendations to your suppliers and customers. We continue to grow and your help is always appreciated.
John Packard, Publisher
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Final thoughts
SMU has heard from some larger buyers who have stepped back into the market to buy at prices that, if not at a bottom, they assess to be close to one. Is it enough to stretch out lead times and send prices upward again? Or do we continue to scrape along the mid-$600s per short ton (st) as we have been doing for most of the last month?
Final thoughts
Cleveland-Cliffs Chairman, President and CEO Lourenco Goncalves had some insightful things to say today about the steel market and about a conference we suspect might be Steel Summit.
Final thoughts
They say a picture is worth a thousand words. Well, when you add in some commentary from respected peers in the steel industry to those pictures, that may shoot you up to five thousand words, at least. In that spirit, we’ve added some snapshots from our market survey this week, along with some comments from market participants.
Final thoughts
I thought we’d have more clarity this week on Section 232, Mexico, and a potential carve-out for steel melted and poured in Brazil. As of right now, the only official comment I have is from the Office of the United States Trade Representative (USTR).
Final thoughts
There are just 40 days left until the 2024 SMU Steel Summit gets underway on Aug. 26 at the Georgia International Convention Center (GICC) in Atlanta. And I’m pleased to announce that it's official now: More than 1,000 people have registered to at attend! Another big development: The desktop version of the networking app for the event has officially launched!