Final Thoughts
Final Thoughts
Written by John Packard
October 6, 2014
On Tuesday (today) Steel Market Update (SMU) adjusted our Price Momentum Indicator from Neutral to Lower. I explain our reasoning in the first article above regarding our price indices. I will do a more detailed explanation as to why we are making a change at this point in time in the coming days.
Today Steel Market Update conducted the first day of our two day workshop on the steel making and rolling process. Part of the program was an exceptional tour of the Steel Dynamics Butler, Indiana mill. Tomorrow (Wednesday) we will concentrate our instruction on qualities and how they are made, how steel is bought and sold (both long and flat products) and we will look at market fundamentals. If you have an interest in joining SMU for our next workshop it will be held in Charleston, South Carolina and we will tour the Nucor Berkeley steel mill. This workshop will be held in the later part of January 2015 (Exact date and hotel information to be announced soon).
We are still hearing that there is pressure on scrap prices – down $20 per gross ton in many markets. We will have more about scrap in Thursday evening’s issue of Steel Market Update.
I want to welcome our newest members (subscribers) as we have added a number of new Premium and Executive level members over the past few days. I want to not only welcome you but I want to let you know that we are hear to assist you if we can. You can ask questions, make comments about content or make suggestions as to what you would like to see in our newsletter, website or our workshops/conferences. We are here to help and we appreciate your comments as many times they lead to articles or ideas for speakers/workshops. You can send your questions/comments/suggestions to info@SteelMarketUpdate.com.
As always your business is truly appreciated by all of us here at Steel Market Update.
John Packard, Publisher
John Packard
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Final Thoughts: AMU brings the news
Usually, I write about steel in this column because, well, we’re Steel Market Update. But before I get to steel, I want to give a shoutout to my colleagues at Aluminum Market Update (AMU) – SMU’s new sister publication.
Final Thoughts
If I could change something, it’d be this: Political news would get more boring. And news about steel prices and steel demand would get a little more exciting.
Final Thoughts: Survey says edition
SMU’s latest survey results indicate that steel market participants think sheet prices are at or near a bottom. But most also think there is limited upside once they inflect higher.
Final Thoughts
A recent IIMA meeting in Brazil shows how the US and much of the rest of the world are operating in parallel realities.
Final Thoughts
We moved our pricing momentum indicators from “lower” to “neutral” for all sheet products this week. For those keeping score, we had been at “lower” for six weeks. And I know some of you think we should have been there for even longer.