Final Thoughts
Final Thoughts
Written by John Packard
March 31, 2014
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Scrap – we are still hearing that market prices are rising. According to our sources, even with the situation at USS Great Lakes, scrap is very tight, export demand is improving and early trades are up $20-$25 per gross ton. We will have more about the scrap markets in Thursday’s issue of SMU. With the ISRI conference next week the deals should all get done by the end of the week.
Steel 101 in Dearborn, Michigan in May is almost completely sold out. We have three (3) spots left before we must close the class due to restrictions on the number of people who will be allowed to tour the Severstal Dearborn steel facility. If you want to attend – now is the time to register. You are also welcome to contact our offices at: 800-432-3475.
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John Packard, Publisher
John Packard
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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!