Final Thoughts

Final Thoughts

Written by John Packard


Our thoughts and prayers go out to those affected by the events in France on Friday evening. Our hope is that the world can use the events of the past few weeks in order to galvanize efforts to ultimately rid those who would prefer the world in Chaos.

We have opened registration for our Leadership Summit which will be held at the PGA National Resort & Spa in Palm Beach Gardens, Florida on March 7-9, 2016. We remind everyone that we are limiting registration for this event and we have a limited number of rooms blocked. You can register on our website or through our office: 800-432-3475. As with other conferences hosted by Steel Market Update we offer a discount for your SMU membership (this one is $150 per person) and we have another discount for early bird registration ($250 discount good through January 1, 2016).

Our mid-November flat rolled steel market analysis will begin at 8 AM ET on Monday morning. If you receive an email invitation please click on the button which will take you to the questionnaire which is hosted by SurveyMonkey.com.

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John Packard, Publisher

Latest in Final Thoughts

Final thoughts

I’ve had discussions with some of you lately about where and when sheet prices might bottom. Some of you say that hot-rolled (HR) coil prices won’t fall below $800 per short ton (st). Others tell me that bigger buyers aren’t interested unless they can get something that starts with a six. Obviously a lot depends on whether we're talking 50 tons or 50,000 tons. I've even gotten some guff about how the drop in US prices is happening only because we’re talking about it happening.

Final thoughts

We’ve all heard a lot about mill “discipline” following a wave of consolidation over the last few years. That discipline is often evident when prices are rising, less so when they are falling. I remember hearing earlier this year that mills weren’t going to let hot-rolled (HR) coil prices fall below $1,000 per short ton (st). Then not below $900/st. Now, some of you tell me that HR prices in the mid/high-$800s are the “1-800 price” – widely available to regular spot buyers. So what comes next, and will mills “hold the line” in the $800s?