Final Thoughts

Final Thoughts
Written by John Packard
October 11, 2017
We received a number of responses to our articles on ethics. We didn’t want to beat a dead horse by producing another article this evening, even though there is plenty to write about. For those of you who have not noticed, Kobe Steel in Japan has admitted falsifying data on materials placed in autos, trains and aircraft. The initial reports do not specifically mention steel – more aluminum and other materials. Nonetheless, the reputation of Kobe Steel may be damaged beyond repair. The mill made an ethical decision to deceive its customers and now they, and perhaps the entire Japanese industry, will be harmed by the lack of foresight and actions of a few. It only takes the actions of a few (maybe even just one) to ruin a company’s reputation. It will be interesting to watch what happens to Kobe Steel in the coming weeks and months.
I mentioned this yesterday but I want to put it out there again today, we will be accepting sponsors and exhibitors for our 2018 SMU Steel Summit Conference in the coming days. If a commitment is made now, you have the option of either being billed and paying during calendar year 2017 or waiting to be billed after the first day of the New Year. If you have questions or would like to receive a sponsors/exhibitors package, please send an email to: info@SteelMarketUpdate.com. We anticipate attracting 750 attendees to our 2018 conference.
We will also be going out to take orders for 2018 advertisement space in our newsletter and on our website. The top banner ad has been selling out each of the last two years well before the beginning of the New Year, so if you have interest please send an email to info@SteelMarketUpdate.com.
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
Can technology help with pig iron and DRI/HBI tariffs?

Final Thoughts
Tariff-related noise aside, there is one basic factor keeping buyers on the sidelines. Despite recent declines, HR prices remain at historically high levels. And there is no obvious support to keep them there.

Final Thoughts
United Airlines raised eyebrows earlier this month when it provided two forecasts for 2025 – one assuming a relatively stable economy and another assuming a recession. The reason? Uncertainty around the impact of President Trump’s policy shocks on the broader economy. And it sometimes feels like we’re seeing a battle between those two narratives (stable vs recession) play out within in the pages of this newsletter.

Final Thoughts
Despite some scary headlines lately (especially about Trump potentially firing Fed Chair Jerome Powell) this is not October 2008 (financial crisis) or March 2020 (onset of the pandemic). But it sure seems like we’ve taken a relatively strong economy and poured a thick sauce of uncertainty over it.

Final Thoughts
I put some of our survey data through ChatGpt, with interesting results.