Final Thoughts
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Final Thoughts
Written by John Packard
August 23, 2017
I am now in Atlanta and the workload and my focus, and that of Ray Culley, Brett Linton and Diana, are all on organizing every minute of the SMU Steel Market Update program, which begins at 2 PM ET on Monday. There are always a few hiccups along the way… something to make your day a little more interesting than what you really wanted.
Most of our speakers are waiting until the last minute to provide us their presentations. This is a good news/bad news scenario for us. We have to go through every slide and marry each presentation with the agenda. For those attending, it appears every speaker is working diligently to provide timely information and opinions on many subjects impacting the domestic steel industry.
If you are attending, we have sent you a number of reminders, and in each reminder is our recommendation that you need to download our App. If you need help, have not received instructions or have questions, please contact Brett@SteelMarketUpdate.com or 706-216-2140.
The conference is SOLD OUT! We made a decision to not take all of the tables out of the room in order to squeeze more chairs into the room (and only have rows of chairs, which I personally do not like – people like tables to take notes, use their laptops or smart phones). Every seat has been sold, and we need to figure out how to fit some of the last minute procrastinators into the room.
One decision we need to make as a company, with the help of our attendees, is whether to begin limiting the number of people who can attend or expand to open it up to as many as possible. I don’t know the answer to this question as it is a new one; this is the first year we have grown by more than 100 registrants. After the conference has concluded, I will be asking the attending for their opinions.
I thought the letter sent by a large majority (but not all) of the steel mills to President Trump in support of Section 232 was an interesting move for what appears to be a stalled process. I don’t know if it will help, but it may bring the subject back up and present a “win?” for the president. We believe there has been a surge of opposition against a move to block imports and/or prevent competition in the U.S. market. This is definitely a topic that will be discussed during our conference – both during the conference and in the side conversations among the attendees.
As always, your business is truly appreciated by all of us here at Steel Market Update.
John Packard, Publisher
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John Packard
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Final thoughts
SMU has heard from some larger buyers who have stepped back into the market to buy at prices that, if not at a bottom, they assess to be close to one. Is it enough to stretch out lead times and send prices upward again? Or do we continue to scrape along the mid-$600s per short ton (st) as we have been doing for most of the last month?
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/gears.png)
Final thoughts
Cleveland-Cliffs Chairman, President and CEO Lourenco Goncalves had some insightful things to say today about the steel market and about a conference we suspect might be Steel Summit.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/gears.png)
Final thoughts
They say a picture is worth a thousand words. Well, when you add in some commentary from respected peers in the steel industry to those pictures, that may shoot you up to five thousand words, at least. In that spirit, we’ve added some snapshots from our market survey this week, along with some comments from market participants.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/gears.png)
Final thoughts
I thought we’d have more clarity this week on Section 232, Mexico, and a potential carve-out for steel melted and poured in Brazil. As of right now, the only official comment I have is from the Office of the United States Trade Representative (USTR).
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2023/11/SMU-Steel-Summit.png)
Final thoughts
There are just 40 days left until the 2024 SMU Steel Summit gets underway on Aug. 26 at the Georgia International Convention Center (GICC) in Atlanta. And I’m pleased to announce that it's official now: More than 1,000 people have registered to at attend! Another big development: The desktop version of the networking app for the event has officially launched!