Final Thoughts
Final Thoughts
Written by John Packard
November 6, 2015
I will be traveling to New York City tomorrow to participate in the Cowen & Company conference for the financial community. I will return to the office on Thursday morning.
For those of you keeping up with our move – all of the phones are working properly including our main 800 number (800-432-3475). You are also welcome to send emails to: info@SteelMarketUpdate.com should you have questions, housekeeping issues with your account or if you would like to add new people, upgrade to Premium, etc.
We will have more information coming out over the next couple of weeks regarding our Leadership Summit Conference which will be held at the PGA National Resort & Spa in Palm Beach Gardens on March 7-9, 2016. Please mark your calendars as this will be a unique conference at a special location at the right time of the year.
Booking is going well for our next Steel 101: Introduction to Steel Making & Market Fundamentals workshop which will be held at a brand new Marriott Hotel (just opened its doors last week) in Starkville, Mississippi. The dates are January 19-20, 2016. The hotel is about 20 minutes away from SDI Columbus which will be hosting our mill tour. Registration is open and available online or you are welcome to contact our office.
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
We got a little flack for adjusting our sheet momentum indicators to neutral last week. To be clear, we didn’t adjust them to lower. Part of the reason we moved them to neutral was because there are some unusual cross-currents in the current market. On the news side, you could make a case that there should nowhere to go but up.
Final thoughts
I think all of us know that sometimes courtships go wrong. A misplaced word or deed and soon things can go sideways, and not in the prices sense. Such could be the case with Japanese steelmaker Nippon Steel’s play for U.S. Steel.
Final thoughts
We’re starting to see some impacts of the big trade case filed last week against imports of coated flat-rolled steel from 10 nations. Namely, we’ve heard that a range of traders have stopped offering material from Vietnam. An alleged dumping margin of nearly 160% will do that. Especially amid chatter of critical circumstances.
Final thoughts
The phrase “political football” has been tossed around a lot lately. (Pun probably intended.) For the humble journalists at SMU who thought the week following Steel Summit would prove a quiet one… the news cycle had other ideas
Final thoughts
Sheet prices didn’t roar back after Labor Day. But steel market news sure came out of the gate strong (or maybe chaotically is the better way to put it). First, the nearly $15-billion proposed sale of U.S. Steel to Nippon Steel exploded into the news. And when I say exploded, I mean that all sides seem to be escalating things now.