Final Thoughts
Final Thoughts
Written by John Packard
November 30, 2016
NLMK USA has gotten the go-ahead on a new walking beam furnace for the Pennsylvania plant. Some pre-construction has already begun. James Baker, Jr. told us in an email, “We will be installing a walking beam furnace in Farrell. We have already started on initial site prep with target completion date of September 2018. There will be no negative impact on production thru the entire project, we have engineered this so as to be seamless to our customers. We will achieve significant improvements in quality, energy efficiently, emissions and scheduling from the new furnace.”
We have 3 seats left for our next Steel 101: Introduction to Steel Making & Market Fundamentals workshop which will be held in Huntsville, AL on January 24-25, 2017 with a tour of the Nucor Decatur mini-mill. Come join us in learning about the steel making process (EAF and Blast/BOF), how qualities of steel are made and how the market works. You can find information on our website or by contacting our office at 800-432-3475.
We intend on conducting four Steel 101 workshops during calendar year 2017.
As always your business is truly appreciated by all of us here at Steel Market Update.
John Packard, Publisher
John Packard
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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!