Final Thoughts
Final Thoughts
Written by John Packard
July 10, 2015
Something different from Steel Market Update this week. I would like for you to forward our newsletters to your friends, customers, suppliers or anyone who might have an interest in the steel industry.
We continue to offer an incentive to companies that recommend our newsletter to others. As long as the new customer provides us the name of the company who recommended them, we will provide a $100 credit to the company making the recommendation. This credit can be used at any time during a 12 month period on any SMU product: workshops, conferences or on newsletter upgrades or renewal.
Wednesday of this week will be the last day to register for the 5th Steel Summit Conference at early bird rates. Between now and the end of the day on the 15th our rate is $1000 per person prior to any SMU customer discount (another $100). On Thursday the rate will increase to full price which is $1200 per per and the SMU customer discount will continue up until the day of the conference.
This coming week will be the week to determine if the other mills are going to move pricing in lock-step with US Steel. Last week USS announced a $40 per ton base price increase on spot orders. Their target price has been reported to be $500 per ton on hot rolled coil. We will see if the other mills think now is a good time (and market) to raise prices.
If you have any questions I can be reached by email at: John@SteelMarketUpdate.com or by phone at 800-432-3475.
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
SMU has heard from some larger buyers who have stepped back into the market to buy at prices that, if not at a bottom, they assess to be close to one. Is it enough to stretch out lead times and send prices upward again? Or do we continue to scrape along the mid-$600s per short ton (st) as we have been doing for most of the last month?
Final thoughts
Cleveland-Cliffs Chairman, President and CEO Lourenco Goncalves had some insightful things to say today about the steel market and about a conference we suspect might be Steel Summit.
Final thoughts
They say a picture is worth a thousand words. Well, when you add in some commentary from respected peers in the steel industry to those pictures, that may shoot you up to five thousand words, at least. In that spirit, we’ve added some snapshots from our market survey this week, along with some comments from market participants.
Final thoughts
I thought we’d have more clarity this week on Section 232, Mexico, and a potential carve-out for steel melted and poured in Brazil. As of right now, the only official comment I have is from the Office of the United States Trade Representative (USTR).
Final thoughts
There are just 40 days left until the 2024 SMU Steel Summit gets underway on Aug. 26 at the Georgia International Convention Center (GICC) in Atlanta. And I’m pleased to announce that it's official now: More than 1,000 people have registered to at attend! Another big development: The desktop version of the networking app for the event has officially launched!