Final Thoughts
Final Thoughts
Written by John Packard
October 28, 2016
Our next flat rolled steel market trends analysis will not begin until next Monday, November 7th. We will begin our November surveys on the 7th and the 21st of the month. If you would like to be added to our invitee list please send me an email: John@SteelMarketUpdate.com. We currently have about 575 people on the survey invitee list and I would like to grow the number to slightly more than 600 people if possible.
The Association of Steel Distributors (ASD) is hosting their annual meeting in Las Vegas in conjunction with FabTech. The dates of the ASD event are November 17-19th. The Wynn Hotel is where ASD members are staying. You can find more details on the ASD website: www.SteelDistributors.org.
Steel Market Update is producing a short two hour version of our Steel 101 workshop for FabTech on Friday, November 18th from 8 AM until 10 AM at the Las Vegas Convention Center. Details can be found on the FabTech website where the program is called Steel Metal 101: Mill to Fabricator. If you have any questions about our workshop (which is free of charge) please send us an email: info@SteelMarketUpdate.com.
Our Memphis, Tennessee Steel 101 workshop which will be held on the 15th and 16th of November is sold out. The next one available for registration is our Huntsville, Alabama workshop which will be held on January 24-25, 2017 and will include a tour of the Nucor Decatur steel mill. You can find details here or on our website: www.SteelMarketUpdate.com.
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
A short tour of key dates in the Nippon/USS deal, and what the future might hold.
Final Thoughts
I sort of expected big news last Friday and over the long, Memorial Day weekend. Because that's become more the norm than the exception for steel this year. Sure enough, Trump posted on Truth Social on Friday afternoon that he had given his blessing to a “partnership” between Nippon Steel and U.S. Steel. And then over the weekend we had market moving new on tariffs, this time involving the EU.
Final Thoughts
We're going to have to wait a bit longer for the final outcome of the Nippon/USS deal.
Final Thoughts
Sure, demand isn’t as good the market had hoped it would be earlier this year. But assuming it doesn’t fall of a cliff, buyers will have to restock at some point. And that might give domestic mills enough leverage to raise prices again.
Final Thoughts
While I would anticipate market sentiment to pivot and improve if all the questions around tariffs were answered, that still leaves us with a few other factors.