Final Thoughts

Final Thoughts

Written by John Packard


It is much like a broken record playing 232, 232 over and over again. I read an article on World Trade Online this morning that quoted White House trade advisor Peter Navarro who said, “…the Trump administration’s trade moves over its first six months will pale in comparison to the ‘amazing’ steps it will take over the next six, with national security investigations of steel and aluminum imports expected to ‘bear fruit’ soon.” The comments were made during a July 26 interview with radio host Laura Ingraham.

Navarro, when asked about the president’s suggestion that the Section 232 investigation of steel imports wouldn’t happen as soon as expected, said, “the delay, as it were, is because the Department of Commerce must finish an investigation under the 232 statute, and if the secretary comes in with a finding that national security is harmed, then the president can act. So we’re waiting for that report. The secretary of commerce is doing a measured, detailed job.”

He mentioned the 9th Circuit Court as one reason they need to follow the process carefully as they do not want any action blocked by the courts.

Navarro also said that China would not get WTO full equality status (free market status). He said U.S. Trade Representative Robert Lighthizer would be fighting that battle, which is very high on the priority list at USTR.

It looks like our conference may well be headed to 600 attendees. We crossed through 550 this week and the registrations keep on coming. In the last two days we have seen new registrations from: CareGo, Precoat Metals, BlueScope Buildings North America, Kloeckner (3), Nidec Minster Corp., Cargill, Eaton Corp., Mainline Metals, Tata Steel International (3), Miami Valley Steel Service (3), Mitsui & Company USA and Campbell Soup.

If you would like more information or wish to register, you can do so on our website or by contacting our offices at 772-932-7538 or 706-216-2140.

I checked with Brett Linton in my office earlier today to see how many people have “gone live” on our SMU Events App. Of the 539 people who were included in the first “dump” into the App (more to come soon), we know at least 100 have gone in and looked around the App. The App will play an important part of your conference experience, and we highly recommend downloading the App now so you can acquaint yourself with all of the features, search for attendees, review our schedule and speakers, and take the short little poll we have on the App when you first log in. You can download the App in your smartphone store. If you already have the App from one of the past two years, all you need to do is switch events to the Steel Summit 2017 Conference. If you have questions, please reach out to: Brett@SteelMarketUpdate.com.

As always, your business is truly appreciated by all of us here at Steel Market Update.

John Packard, Publisher

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Final thoughts

Last week was a newsy one for the US sheet market. Nucor’s announcement that it would publish a weekly HR spot price was the talk of the town – whether that was in chatter among colleagues, at the Boy Scouts of America Metals Industry dinner, or in SMU’s latest market survey. Some think that it could Nucor's spot HR price could bring stability to notoriously volatile US sheet prices, according to SMU's latest steel market survey. Others think it’s too early to gauge its impact. And still others said they were leery of any attempt by producers to control prices.