Final Thoughts
Final Thoughts
Written by John Packard
July 7, 2017
The question steel buyers are going to be asking themselves as this week begins is, will the Trump administration finally announce their findings on Section 232 and will this announcement allow President Trump to move on the duties or quotas expected by the domestic steel mills and many steel buyers?
The question I am asking myself is, what effect will the conversations and decisions made during the G20 meeting have on the Trump administration? Will the president wait and give the G20 the time for the G20 sherpas to file their report at the end of August? Will the president have the patience to let the world’s leaders address the issue or will he try to show them he is serious about addressing the over-capacities in steel?
Either way, I expect this to be another week where it will be hard to get a firm grip on the direction of supply and pricing. Any lack of transparency results in hand-sitting on the part of many steel buyers.
A reminder that we have released our next Steel 101 workshop for those who may be interested in joining us in Ft. Wayne, Indiana in early October. The weather should be wonderful and cool enough to make the tour of the SDI Butler steel mill a real treat. You can learn more about our program, instructors, lodging and meeting space as well as costs to attend on our website. Go to: www.SteelMarketUdpate.com/events/steel101
With Section 232 hanging over our heads this week should be yet another interesting one for the industry. Stay tuned to see what is going to happen next.
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
President Trump’s tariff policies have a lot more in common with a roundabout than you’d think.
Final Thoughts
The difference: The spat with Turkey was a big deal for steel. This time, the 50% reciprocal tariff for Brazil – if it goes into effect as threatened on Aug.1 – hits everything from coffee and to pig iron. It seems almost custom-built to inflict as much pain as possible on Brazil.
Final Thoughts
Are we on the cusp of sorting out the tariff situation, or is this merely another round in the bout?
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?