Final Thoughts
Final Thoughts
Written by John Packard
October 13, 2017
I had a whirlwind weekend having traveled to Cleveland to see family and to attend MidWest Materials’ 65th anniversary. Brian Robbins and his crew did a great job paying homage to their past and current employees. The company is much different today than it was in 1952 when it started. I have a feeling it will be quite different again in just a few years’ time as the pace of change quickens and companies either innovate or struggle to survive.
SMU recently began writing a series of articles about ethics–something that has concerned me during my active sales career and after I began writing Steel Market Update. Almost on cue comes Kobe Steel, which has admitted falsifying data to 500 customers. The exact depth of the deception is not yet known. But the parts went into airplanes, bullet trains and automobiles…. Now, because of the actions of one company on the other side of the world, people are asking questions about products they buy from steel mills everywhere.
I was asked a question during our Steel 101 workshop in Indiana–should we be concerned if the tests done by the mills are accurate? My response then was that no mill would risk their reputation and their ability to look their customers in the face by falsifying test results or certifications. Now there is Kobe Steel….
Our Jan. 24-25, 2018, Steel 101: Introduction to Steel Making & Market Fundamentals workshop is beginning to fill up. We are now about one-third full, so we encourage anyone interested in attending to do so. If you have questions, please feel free to reach out to my office. I can be reached at 800-432-3475. We will tour the SSAB Mobile minimill as part of the January workshop.
As always, your business is truly appreciated by all of us here at Steel Market Update.
John Packard, Publisher
John Packard
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Final thoughts
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Final thoughts
Everybody has a plan… until they’ve dealt with volatility in the HRC market. While Mike Tyson’s original quote was about getting punched in the mouth, it’s unlikely the ex-champ has gone many pricing rounds with hot-rolled coil.
Final thoughts
Hold-rolled (HR) prices held roughly steady this week after slipping for much of April. I don’t have any spicy quotes to offer about mostly flat prices. Besides, a lot of the questions I’ve gotten recently have been about demand. Some of you tell me that it’s still stable or improving. Others tell me that it’s suddenly dried up.
Final thoughts
What a difference a month makes. In late March, it seemed like the US hot-rolled (HR) coil market was poised to cycle upward. Large buyers had re-entered the market and placed big orders earlier in the month. Several outages were underway or upcoming. And expectations were that lead times would continue to extend. Cliffs said […]
Final thoughts
I’ve gotten some questions lately about whether the huge gap between domestic hot-rolled coil (HR) prices and those for cold-rolled (CR) and coated is sustainable. I remember being asked similar questions about the wide spread between HR and plate that developed in early 2022. I thought at the time that there was no way that spread could hold. Turned out, I was wrong. That was humbling. And so I’m not going to make any bold predictions this time.