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
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Latest in Final Thoughts
A big "thank you" to Wolfe Research and Timna Tanners for organizing a lunch in today in Chicago with a group of steel industry participants and investors.
Sheet prices fell again this week, this time not on fears of a United Auto Workers (UAW) union strike but on the actual thing.
The United Auto Workers (UAW) strike that started Friday leaves the Detroit 3 automakers—and it’s union-represented workers—in uncharted territory.
SMU Managing Editor Michael Cowden shares his Final Thoughts for the week on what happens to steel if the United Auto Workers (UAW) launch a series of “stand up” strikes at midnight tonight against Ford, General Motors, and Stellantis?
Sheet prices have fallen to their lowest point of the year - just below $700 per ton ($35 per cwt) when it comes to hot-rolled coil (HRC).