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
Read more from John PackardLatest in Final Thoughts
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!