Steel Products

Pre-Summit Offers Value You Can Apply to the Market
Written by Tim Triplett
August 1, 2017
After a strong start to 2017, global steel prices have trended downward due to weaker demand and falling raw materials pricing. In the U.S., the impending Section 232 investigation has left the market in a state of uncertainty. All the more reason steel buyers should have a strategy for mitigating risk, says Ryan Huff, Associate Partner with the Applied Value Group in New York.
Huff will be a featured speaker during SMU Steel Summit Pre-Summit program at 3 p.m. on Monday, Aug. 28, in Salons E-H of the Atlanta Airport Marriott Gateway Hotel, adjacent to the Georgia International Convention Center. Assisting Huff will be David Feldstein of Flack Global Metals. The pair will provide real-world insights into risk mitigation strategies and how they can be used to develop business and protect customers.
Huff will walk attendees through a three-pronged strategy offering practical advice on contract management, hedging and gross margin alignment. He will discuss how risk should factor into in the purchasing of steel and what are some of the correct strategies for risk mitigation in a modern marketplace. From isolating the market component, to obtaining the proper transparency in each steel buy, to viewing risk mitigation as a vehicle for margin management, Huff and Feldstein will share some best practices for effectively reducing volatility.
“It’s not just the price that matters, it’s how it will affect your gross margin. You need alignment between your purchasing folks and your sales folks, then come up with a plan to tackle the level of risk you are comfortable with,” Huff says.
The Applied Value led program will be the second “Pre-Summit” item on the agenda. Beginning at 2 PM, trade attorney Lewis Leibowitz and Daniel Pearson, trade specialist for the Cato Institute (and former ITC chairman) will discuss the various trade suits and remedies. We are providing the first “Pre-Summit” program as a way for our attendees to be fully informed prior to the main conference beginning on Tuesday morning.
You can still find out more information about the conference and there is still time to register to attend. Both can be done on our website: www.SteelMarketUpdate.com/events/steel-summit.

Tim Triplett
Read more from Tim TriplettLatest in Steel Products

Nucor drops HR spot price to $865/ton
Nucor has lowered its hot-rolled (HR) spot price by another $10 per short ton (st) this week.

SMU Week in Review: Aug. 11-15
With so much happening in the news cycle, we want to make it easier for you to keep track of it all. Here are highlights of what’s happened this week and a few things to keep an eye on.

Active rig count holds in US but grows in Canada
Oil and gas drilling in the US was unchanged this past week following three straight weeks of declining activity. Canada saw another gain, reaching a 22-week high.

Hot-rolled spot market conditions linger, prices slip
Market participants said they have high hopes that the stable hot-rolled spot market will improve as the year rolls on.

Welspun Tubular makes $150M investment in Arkansas line pipe mill
Line pipe manufacturer Welspun Tubular LLC has announced a $150-million expansion project at its site in Little Rock, Ark.