Final Thoughts
Final Thoughts
Written by John Packard
March 7, 2016
Ted Cruz said it best the other night while debating Donald Trump, “breathe, breathe, breathe….” While speaking to one of my longtime steel buying contacts we began discussing the mentality to this market as there are many “unknowns” such as exactly what the heck is going on in China. We were discussing the difference between experienced traders, who are not taking positions and have been relatively calm over the past few weeks. Meantime, those who haven’t experienced a “push, push” market are, “getting caught up in the this [frenzy], it feeds on itself after awhile.”
Traders are nervous. Steel buyers are nervous and everyone needs to take a few calming breaths before jumping in (or out) of this market.
A quick comment about our upcoming Steel 101: Introduction to Steel Making & Market Fundamentals workshop, the May 17-18, 2016 workshop is about 50 percent sold out and we are building what appears to be an exception group of attendees. The workshop will be held just outside of Toledo, Ohio (airports to use are Toledo, Detroit or Cleveland) and we will tour the North Star Bluescope steel mill. You can learn more about our program, instructors, etc. on our website or you are welcome to contact our office at 800-432-3475 and I will answer any questions that you or your team might have.
SMU also conducts custom workshops for service centers, manufacturing companies or steel mills on a wide array of subjects. If your company has an interest in utilizing our training services please contact me at: John@SteelMarketUpdate.com.
Lastly, we are already getting registrations for our 2016 Steel Summit Conference which will be held in Atlanta, Georgia on August 29-31, 2016. I got a text from an international steel mill the other day who, up to now, has never attended one of our Steel Summit Conferences (this will be our 6th). He told me, “Just so u know: u finally may have convinced me to contribute to your retirement fund. Have not signed up yet, but secured a room at the Marriott for your August 29th Steel Summit. U have a good lineup and I will try to convince my boss to attend.” That’s what I like to hear. This year’s lineup will be exceptionally strong and will have some variety to make it of interest and value to everyone. Those who have been to one of the last two conferences that we have held at the Georgia International Convention Center next to the ATL airport already know that our Steel Summit Conference is one of the best networking opportunities you will have (be it sales, purchasing or management related). Save the dates: August 29th (afternoon arrival) through 5 PM on August 31st. We are also looking at adding a Managing Price Risk one day workshop either the day before or the day after (we will advise soon). A special thank you to our sponsors: Pacesetter Steel, Big River Steel, Steel Dynamics, Magic Coil Products, Alliance Steel, Kenwal. We have a few sponsorships as well as a number of exhibition spaces still available. You can find details on our website or contact me at 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
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Final thoughts
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Final thoughts
What's the tea in the steel industry this week? Here's the latest SMU gossip column! Just kidding... kind of. Yes, some of the comments we receive in our weekly flat-rolled market steel buyers' survey are honestly too much to put into print. Some make us laugh. Some make us cringe. Some are cryptic. Most are serious. We appreciate them all. Below are some highlights from our survey results this week. Some of the comments that we can share with you are also included, in italics, in the buyers' own words, with minimal editing on our part.
Final thoughts
Last week we wrote about a brief lull in price movement, labeling it a period of wait and see. It did, in fact, turn out to be pretty brief. This week... things are little bit different. Perhaps right now we are more in a period of "hope and pray" or "Here we go, hold on to your hats."