I was speaking with someone associated with one of the Korean trading companies earlier today. I was told that the Koreans will continue to quote and ship coated steels as they do not believe their mill(s) were involved in any dumping. I was also told by the same trader that they were placing business with Taiwan for arrival after the potential August 20th deadline. Their reasoning was the suit will be extended and the real deadline would be November 3rd.
Other traders with whom I spoke today, that I know have close Indian or Chinese relationships, have told me that they either were not bringing in any new material or quotes had been suspended pending a review of the suit.
I expect the next few weeks to be volatile as traders work to decide if they will take on the risk of potential duties by bringing in coated products from Korea, China, Taiwan, India and Italy.
Today is Tuesday, June 16th. There are two weeks left to our early bird special pricing ($1000 per person vs. $1200) for the SMU Steel Summit Conference which will be held next to the Atlanta International Airport at the Georgia International Convention Center on September 1 & 2, 2015. SMU member companies also receive an additional $100 per person discount off of the early bird (or full) rate. We recommend those planning on attending book their rooms (and register online or through our office) as soon as possible. Details are on our website: www.SteelMarketUpdate.com or you can contact our office at: 800-432-3475.
I want to thank our early sponsors: Magic Coil Products, Alliance Steel and Cargill for their support. If you would like to learn more about what sponsorship and/or booth opportunities we have at this year’s conference click here or contact our office at 800-432-3475.
I was communicating with one of our customers over the past couple of days about their dislike of having to go back and forth and click on each headline when reading articles in the website. There is a simple way around that. Once you are signed into the website hover your mouse over the “Newsletters” tab and the drop down menu will come down. The first item on that menu will be either Executive or Premium Archives depending on your level of membership. Click on that link and you will be able to read the latest (and back issues) from beginning to end just like you do when reading it in your inbox.
I will be in Chicago for the next couple of days as I speak to a group sponsored by Bank of America Merrill Lynch and then attend the ASD regional meeting. Ray Culley, who is working with me on our Steel Summit Conference and our new Leadership Conference will be with me in Chicago.
As always your business is truly appreciated by all of us here at Steel Market Update.
John Packard, Publisher
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