Final Thoughts
Final Thoughts
Written by John Packard
April 14, 2014
First, our questions posed to U.S. Steel remained unanswered as we reached the end of the day today. The last we heard they were running two blast furnaces at reduced capacities for each at Gary Works. It is not known exactly how many tons per day of pig iron or steel are being produced. Iron ore is (or will be) on its way to Gary Works as time progresses and the ice breakers are able to move convoys through Lake Superior, past Sault Ste Marie and ultimately into Lake Michigan. We have more about the status of the various vessels in another article in this newsletter.
There is no news coming out of Great Lakes at all. By the way, we did hear from one of our contacts at Hamilton Works who confirmed their substrate was coming from Lake Erie and their lines are all very busy. US Steel made the decision to shut down the blast furnace at Hamilton towards the end of last year.
We were briefly sold out of our Steel 101 workshop in Dearborn. Then we received a cancellation so we do have room for one more. You can find details on our website or you can contact our office for information: 800-432-3475.
We have the dates set on our Managing Price Risk II: Strategies & Execution. We will be holding the workshop at the CME Building at 20 South Wacker Drive in Chicago on June 24 & 25th. The workshop will begin at 1 PM on the 24th and will end on the 25th around 2 PM CT. We are working on finishing the details to put on our website as well as registration details. I hope to have these ready by the end of the week. If you have questions or want to get a spot at the head of the line you can do so by contacting our office: 800-432-3475.
Today is Tax Day in the United States. You have until Midnight tonight…
As always your business is truly appreciated by all of us here at Steel Market Update. Without you and your company we would not be paying taxes this evening…
John Packard, Publisher
John Packard
Read more from John PackardLatest in Final Thoughts
Final Thoughts
Will a US-UK meeting next week prove a harbinger of tariff deals to come, or will it be just another case of having the rug pulled from under us?
Final Thoughts
When will we see prime scrap become scarce as the worldwide transition to EAF melting increases, especially for HRC production? It's a question I've been asked a lot.
Final Thoughts: The hidden cost of analysis paralysis in the age of uncertainty
With US economic indicators all over the map, it’s no wonder the steel market has experienced a whole lot of analysis paralysis this year.
Final Thoughts
A recurring theme in conversations with some of you and in the comments submitted in our surveys is concerns about demand and uncertainty around tariffs. Where does SMU’s latest opinion polling on President Trump’s tariffs stand? Let’s take a look at the numbers.
Final Thoughts
I’ve been getting some calls lately from some of you who want to kick around ideas on where prices might bottom and when.