Final Thoughts
Final Thoughts
Written by John Packard
April 21, 2016
Steel buyers need to be aware that there has been a jump in iron ore spot pricing in China over the past 48 hours. The Steel Index (TSI) reported 62% Fe fines into the port of Tianjin, China at $64.3/dmt (dry metric ton) up 4 percent from the previous day. This same item is up just over 10 percent over the past week.
Coming up soon is scrap and we see scrap prices at worst going sideways and more likely prices will rise by $10-$30 per gross ton depending on the item and region.
A special thank you to Preifert Manufacturing for recommending Steel Market Update newsletter, workshops and our conference to a manufacturing company who has just come on as a new member. We encourage (and we will reward) companies who recommend our newsletter to those involved in the steel industry. It is always best for our new customers to hear about us from their suppliers or customers. You are the best versed in what we have to offer and we thank you for your support.
Registrations for our Steel Summit Conference are starting to pick out. One thing I’ve noticed is how many companies are bringing multiple people this year – executives, sales, purchasing, CFO they all seem to be coming – maybe you should too? Registration is open. See you in Atlanta.
Steel 101 workshop in Ohio next month is sold out – thank you and we look forward to our next one which will be in early November in Memphis with a tour of Big River Steel…
As always your business is truly appreciated by all of us at Steel Market Update.
John Packard, Publisher
John Packard
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SMU’s latest survey results indicate that steel market participants think sheet prices are at or near a bottom. But most also think there is limited upside once they inflect higher.
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