Final Thoughts

Final Thoughts

Written by John Packard


SMU sources advised us on Wednesday that the steelmaking operations at U.S. Steel Great Lakes (Ecorse) in Michigan had begun. This afternoon, US Steel confirmed that the start-up process was underway with no further elaboration or comment. We anticipate that the mill will begin making prime steel within a few days to a week.

Our newest workshop – Managing Price Risk II: Strategies & Execution will be held in Chicago on June 24 & 25, 2014. More details can be found in the Events section of our website or just click on the link provided.

We will check on the ArcelorMittal C-5 blast furnace which went down late last week at Cleveland Works. We have been led to believe that the furnace will be back up sometime next week and that the company will not lose any orders due to the outage.

A note that I will be in New York City during the Steel Success Strategies conference. I will be attending the Platts conference on Monday and the Bank of America Merrill Lynch dinner that same evening. If you would like to meet with me during the conference please send me an email: John@SteelMarketUpdate.com.

As always your business is truly appreciated by all of us here at Steel Market Update.

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.