Final Thoughts
Final Thoughts
Written by John Packard
July 18, 2014
In the last issue of Steel Market Update I warned that there are lots of rumors swamping the steel market as negotiations for Severstal NA heat up (or are perhaps already over) and Gallatin entertains bids on their mill (half owned by Gerdau and half ArcelorMittal). The other mill issue is the Chapter 15 (Canadian equivalent of Chapter 11) filing by Essar Steel Algoma. Consolidation is upon us and will be one of the topics which we will need to discuss during our Steel Summit Conference in September.
Speaking of our Steel Summit Conference and speakers – I don’t know how many of you had a chance to see metals and mining analyst, Timna Tanners of Bank of America Merrill Lynch on Fox Business News last week. If you missed it here is a link to her comments and optimism regarding the steel industry in the U.S. At the left is a photo taken of her off the TV screen.
Timna Tanners and John Anton of IHS Global Insight will be featured speakers discussing the changes occurring in with the steel industry and they will forecast benchmark steel prices for 2015 and beyond. This year will be the 4th time they have spoken together at one of our conferences. As we have found out on previous occasions they do not necessarily agree on their forecasts. This year we will give them a chance to ask each other questions as well as present to our attendees.
The next week or two are looking like they will be quite interesting. We may start to get some clarity regarding the Severstal Deaborn and Columbus plants. We may also get some action (or not) on the rumored trade case on cold rolled and potentially coated flat rolled products.
As always your business is truly appreciated by all of us here at Steel Market Update.
John Packard, Publisher
Where do you want to be the first week of September?
John Packard
Read more from John PackardLatest in Final Thoughts
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.
Final Thoughts
Could an upcoming BRICS meeting spell trouble for President Trump's trade policy?
Final Thoughts
Another record-breaking SMU Steel Summit is in the books. Thanks to all of you – attendees, speakers, sponsors, and exhibitors – for making it possible it in what has been an uncertain year for steel.