Final Thoughts
Final Thoughts
Written by John Packard
June 2, 2017
Multiple sources are advising SMU that California Steel (CSI) has announced a $30 per ton ($1.50/cwt) increase for production orders during the first two weeks of July. After that they will evaluate pricing and make a further announcement. We will investigate this further over the next couple of days and advise our readers what this means.
According to SMU scrap sources, on Friday of last week Nucor and Steel Dynamics (SDI) cancelled the remaining open ferrous scrap orders they had with dealers for delivery during the month of May. Other mills only cancelled shredded scrap orders. The bottom line being the domestic steel mills are expecting ferrous scrap pricing to drift lower as negotiations get going in earnest for the month of June delivery.
On Monday morning we will begin our early June flat rolled steel market trends analysis. If you receive an invite please click on the button contained in the message and spend a few moments helping us to better understand what is happening in the flat rolled markets.
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
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.
Final Thoughts
Maybe some of this uncertainty will get ironed out ahead of Liberation Day tariffs resetting higher rates on July 9. But if I had to place a wager, it would be on more drama and last-minute brinksmanship - whether it comes to the Liberation Day tariffs or the various Section 232s that are in the works.
Final Thoughts
What should you keep your eye on, considering the latest geopolitical events?