Final Thoughts
Final Thoughts
Written by John Packard
September 18, 2016
With the Wheatland Tube filing of a complaint against China using the ENFORCE Act we are about to enter the next stage of trade complaints. The Wheatland complaint is for circumvention of duties that already exist against Chinese products, so it will be interesting how quickly this first test case takes and will Customs and Border Protection find in favor of the U.S. manufacturer. We will be watching this closely in the coming weeks (and months).
I believe we have two to maybe up to four seats left for our next Steel 101: Introduction to Steel Making and Market Fundamentals workshop which will be held in Memphis, Tennessee and will include a tour of the brand new Big River Steel (BRS) steel mill. The dates are November 15-16, 2016. You can learn more about the workshop on our website: www.SteelMarketUpdate.com or by contacting our office at 800-432-3475.
A note to those attending FABTECH and/or the ASD Annual Conference both in Las Vegas at the end of that same week as our Steel 101 workshop. John Eckstein (one of our Steel 101 instructors) and I will be teaching a “mini” Steel 101 workshop at the Las Vegas Convention Center as part of FABTECH. Our class will be from 8 AM until 10 AM on Friday, November 18th. I hope to attend at least a portion of the ASD meeting as well.
Brett is on vacation for a couple of days. If you need to reach me you can do so by calling 800-432-3475. If you want to reach Diana (pay a bill or have questions about your account) she can be reached at 772-932-7538.
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
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!