Final Thoughts
Final Thoughts
Written by John Packard
August 17, 2016
We are 10 days away from the start of our Steel Summit Conference in Atlanta. This will be our 6th conference and it will be the best attended conference by a wide margin. When we began the planning process my most optimistic goal was to get 400 attendees. We had 280 attendees at our 5th Steel Summit Conference. As of this evening we have 403 people registered to attend the conference. Thank you all.
Over the past few days I have been taking time to speak with each of our speakers/panelists to make sure we are all on the same page, answer any questions they might have and encourage them to stay for the entire conference if possible. Many of the speakers will be there and available to network with our attendees. One of the speakers told me the reason why they like our conference is because it is one where the “decision makers” are there and not just the top executives. We do have a strong contingent of heads of purchasing at our conferences (probably 50 percent of the attendees) as well as corporate presidents/CEO’s/owners and aales managers and staff sales and purchasing people.
If you are registered for the conference you should have received an invitation to download our SMU Events App. If you have not received an invitation you may want to check to make sure you are indeed registered. If you have any questions about registration or the App contact Brett@SteelMarketUpdate.com and he can take care of you.
I have had a number of conversations with hot rolled buyers who are out looking for foreign hot rolled and having difficulties in finding material. The number of countries offering HRC into the market is pretty small right now and this could present some issues down the line.
I was speaking to a manufacturing company who uses ultra light gauge galvanized. The number of suppliers is down to Uttam out of India (they have a lower duty rate than the other Indian mills), South Africa, Turkey, Vietnam (the mills are all sold out through the end of the year) and the UAE. Even with the limited number of suppliers foreign prices are still $7.00/cwt-$8.00/cwt better than domestic pricing for the same products.
For our Premium customers the survey Power Point presentation should be on the website by early tomorrow afternoon. We will have a supplemental issue for our Premium clients on Friday as well.
As always your business is truly appreciated by all of us here at Steel Market Update.
John Packard, Publisher
John Packard
Read more from John PackardLatest in Final Thoughts
Final Thoughts
The difference: The spat with Turkey was a big deal for steel. This time, the 50% reciprocal tariff for Brazil – if it goes into effect as threatened on Aug.1 – hits everything from coffee and to pig iron. It seems almost custom-built to inflict as much pain as possible on Brazil.
Final Thoughts
Are we on the cusp of sorting out the tariff situation, or is this merely another round in the bout?
Final Thoughts
I’m not sure how many different ways I can write that it’s been a quiet market ahead of Independence Day. There are variations on that theme. I’ve heard everything from the ominous “eerily quiet” to "getting better" and even the occasional “blissfully unaware” (because I’m enjoying my vacation).
Final Thoughts
What's going to be the next big thing in steel?
Final Thoughts
Based on the amount of ‘out of office’ replies we’ve been receiving and the results of this week’s steel buyers’ survey, those pesky summer doldrums have arrived for the steel industry.