Final Thoughts
Final Thoughts
Written by John Packard
August 19, 2016
I expect the next seven days will be quite hectic in my life and those of our SMU team as we make final preparations for the 2016 Steel Summit Conference. I will actually be traveling to Georgia on Wednesday and will work from there until the conference has concluded. We do have a few spots open but the conference is about as close to being sold out as we can get. We are actually counting on a few people not showing up each day. If not, we will be standing room only…
I think it is important to recognize everyone who has been actively involved in making this our best conference ever. First, our speakers without whom our conference would be just another event. Thank you to: Mark Millett (Steel Dynamics), Roger Newport (AK Steel), Lourenco Goncalves (Cliffs Natural Resources), Mark Bula (Big River Steel), Alan Beaulieu (Institute for Trends Research, Christopher Oakley (Federal Research Bank of Atlanta), John Anton (IHS Global Insight), Tony Taccone (First River Consulting), Gaurav Chhibbar (Cargill Metals), John Farley (McNichols), John Ganem (Kloeckner Metals), Lawrence Kavanagh (Steel Market Development Institute), Lewis Leibowitz (The Law Office of Lewis E. Leibowitz), Lisa Reisman (MetalMiner), Thom Romer (Worthington), Jaynie Smith (Smart Advantage), Timna Tanners (Bank of America Merrill Lynch), Diane Thielfoldt (The Learning Cafe), Jeff Widenor (Precoat Metals).
Our sponsors and exhibitors: Pacesetter Steel, Mill Steel, Big River Steel, Tennessee Steel Haulers, Steel Dynamics, Nucor, Alliance Steel, Magic Coil Products, Cargill, Kenwal, MidWest Materials, ITR Economics, Association of Steel Distributors, Georgia Ports Authority and Smart Advantage.
And my staff: Ray Culley, Brett Linton, Diana Packard, Sandy Williams, Peter Wright, Mario Briccetti, Steve Painter, John Eckstein and our newest employee Alison LaLonde. Working with our staff is our website developer: K3 Tech.
Now the hard work begins as we head for the finish line. I hope we will see you in Atlanta. If not, don’t fear, there is always next year and the dates have been set: August 28-30, 2017 in Atlanta.
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
Sometimes even in a bit of chaos there is complacency. And it seems that since March 2020, “a bit of chaos” has been the order of the day. That means in the world at large, and in steel specifically.
Final thoughts
SMU had the pleasure of attending the American Iron and Steel Institute's (AISI's) annual general meeting in Washington this week. It was a slow week in our nation's capital, so we were able to take a leisurely stroll around the National Mall and take in the sights. Just kidding. In fact, the meeting coincided with significant trade actions announced by the Biden administration. It included, among other things, additional tariffs on Chinese steel and aluminum.
Final thoughts
Our spot price is little changed this week after moving sharply lower last week on the heels of Nucor’s unexpected price cut. Here’s one thought on that trend: Nucor's weekly HR price (aka, its “Consumer Spot Price” or CSP) has to date functioned almost more like a monthly price.
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."