Final Thoughts
Final Thoughts
Written by John Packard
June 21, 2017
I am in California as we are conducting our 21st Steel 101 workshop. We have a great group coming as far away as New Jersey in the East, Singapore to the West, Washington state, Oregon, Indiana, Michigan, Texas and many more states.
I want to thank California Steel Industries (CSI) and John Walburg for a great tour of their facilities. We did switch to a morning tour instead of our usual afternoon tour due to the weather threatening 100 degree temperatures (it was 101 yesterday). The weather cooperated and we had a great tour of the mill.
We passed a milestone yesterday which was the day that our registrations for the SMU Steel Summit Conference exceeded last year’s record. We will set a new record for attendance and with more than 9 weeks left to go we still expect more than 500 people (outside chance for 600 if you all sell the conference) and probably close to 250 companies. Come join us in Atlanta on August 28, 29 & 30th. Details are on our website here.
Tim Triplett and I will be in New York City on Monday and Tuesday next week. We do have some open time to meet with you on Tuesday mid-morning and early afternoon. You can reach me at John@SteelMarketUpdate.com to set up a time or you can text me while in New York at 770-596-6268.
My condolences to the family of Norm Gottschalk who was one of the pillars of the steel industry as the CEO of Marmon Keystone. Mr. Gottschalk died earlier this week and he will be missed by his family, friends and those in the industry.
As always, your business is truly appreciated by all of us at Steel Market Update.
John Packard, Publisher
John Packard
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Final Thoughts
Cracks have formed in what has been presented as the Biden administration’s united front against Nippon Steel’s play for U.S. Steel. A report from the Financial Times said parts of the administration are at odds on the deal.
Final Thoughts
It’s been another week of torrid speculation when it comes Trump and tariffs. And another week of mostly flat price movement when it comes to steel sheet and plate. As far as Trump and tariffs go, I think I might have lost track. We've potentially got 10% blanket tariffs on imports from China, 25% tariffs on imports from Canada and Mexico, 100% tariffs on the BRICs, and 200% on Caterpillar. Canada might be the 51st state. Mexico could be the 52nd state. But all can be resolved if you stop by Mar-a-Lago and kiss the ring?
Final Thoughts
Never have I been more certain in declaring that those in the steel industry are less certain now than they thought they’d be at this point before the election.
Final Thoughts
“Trump took to Twitter.” That was a familiar story lead in Trump 1.0. Now it’s “Trump took to Truth Social (or X)." The latest example: President-elect Donald Trump on Monday evening said he was “totally against” U.S. Steel being acquired by Nippon Steel in a post on Truth Social.
Final Thoughts
And so it begins (again). Not to be outdone by Thanksgiving, President-elect Donald Trump has threatened to impose tariffs of 25% on all imports from Canada and Mexico. He also threatened to hit all imports from China with tariffs of 10% - an amount that would come on top of a boatload of pre-existing duties and tariffs.