Analysis
August 11, 2014
Final Thoughts
Written by John Packard
We are starting to learn that the holdup on the flat rolled dumping suits has been due to the desire by the domestic mills to protect the automotive companies. If suits are filed look for exclusions on I.F. steels and potentially coils wider than 60 inches. We have heard from both mill and non-mill sources that the target date is September 2nd (September 1st being a holiday in the United States). As you already know, attorney Roger Schagrin who represents the steel mills and attorney Lewis Leibowitz are scheduled to debate the issue of foreign imports at our Steel Summit Conference on the morning of September 3rd – the first day of our conference.
There will be a bumper crop in the United States this year and that will have a ripple effect for the steel industry. Crop prices may go lower, which would be good for the consumer, but the farmers would benefit from the larger crops generating more cash. The large crops will mean more storage facilities, rail cars to move grain and corn and the cash should be there for more tractors, etc. for 2015.
