Final Thoughts

Final Thoughts

Written by John Packard

Our Steel 101 workshop spent the afternoon touring Severstal Dearborn. As the class climbed catwalks and peaked at molten steel I spent most of the afternoon in the executive offices meeting with the mill’s CEO Saikat Dey.This was my first opportunity to meet with Mr. Dey and I found him to be intelligent, charming and engaging. When asked about how he came to be the Severstal CEO he responded, “Things like this are never designed they just happen.” He leads one of the most diverse and youngest management teams in the North American steel industry. I think many of you will find his comments on Severstal and the industry interesting and I will have more on our conversation in Thursday evening’s edition of Steel Market Update.

I am going to keep my comments short this evening and will most likely make up for it in Thursday’s issue as our survey results become available and I think you will find the results quite interesting.

As always thank you for your business which is truly appreciated.

John Packard, Publisher

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Final thoughts

Last week was a newsy one for the US sheet market. Nucor’s announcement that it would publish a weekly HR spot price was the talk of the town – whether that was in chatter among colleagues, at the Boy Scouts of America Metals Industry dinner, or in SMU’s latest market survey. Some think that it could Nucor's spot HR price could bring stability to notoriously volatile US sheet prices, according to SMU's latest steel market survey. Others think it’s too early to gauge its impact. And still others said they were leery of any attempt by producers to control prices.