Final Thoughts
Final Thoughts
Written by John Packard
October 25, 2017
We are three months away from our Mobile, Ala., Steel 101 workshop and we are sold out. Having said that, I would recommend that if you want to attend, add your name to our wait-list. You can do that on our website by clicking on the registration link; after you are advised that the workshop is sold out it will offer you the opportunity to add your name to the list. SSAB advised that they may not use all of their spots and, if they don’t, we will be able to add one or two more people.
We are in the process of moving the Steel 101 workshop that is scheduled to follow Mobile up in the calendar. We are working with NLMK USA and their Portage, Ind., facility for a March 2017 workshop. As 2018 progresses, we plan on holding workshops during the months of May, July/August and October. Stay tuned for exact dates and for the mills we will be working with.
Some of our readers were “disappointed” with comments made by Cleveland Cliffs CEO Lourenco Goncalves, who spoke negatively about service centers (Goncalves is the former CEO of the Metals USA service center group) along with his comments about North Korean steel. Someone sent us a note pointing out the North Koreans had only exported $350,000 of iron and steel products to the entire world from October 2016 through May 2017. In comparison, the Chinese exported $60 billion worth of iron and steel products during calendar year 2016. Steel Market Update will look into this issue further in a coming edition.
I know companies are making out their budgets for 2018 right about now. Don’t forget to budget monies to attend our 2018 SMU Steel Summit Conference, which will be held at the Georgia International Convention Center on Aug. 27-29.
We have begun to send out sponsorship and exhibitor brochures for the 2018 conference. We recommend claiming your spot early as we expect to sell out the limited number of sponsorship and exhibition spaces we have available. If you need any more information or would like a brochure, please send an email to info@SteelMarketUpdate.com and we will get you all the information you need.
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
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.
Final Thoughts
Nearly 50% of respondents to our latest survey thought hot-rolled coil prices have already peaked. And where will those prices be two months from now? Responses were decidedly split on that question.