Final Thoughts
Final Thoughts
Written by John Packard
January 10, 2018
There was an interesting article in World Trade Today this afternoon regarding the expectations associated with the Section 232 investigation and the report that will be provided to President Trump by Commerce Secretary Wilbur Ross over the weekend or early next week. WTT reported, “While the final steel report is expected to be delivered to the White House next week, a public release of its findings is highly unlikely,” a source said. “There may be some sort of public acknowledgment, but I doubt the content of the report will be disclosed this month.”
The key takeaway from what I have been reading is those of you anticipating some form of closure next week may be in for a disappointment. There are some who think the president may act at, or around, his State of the Union address, which is scheduled for Jan. 30.
An unclassified report has to be published in the Federal Register. However, there is no deadline for that to happen.
It appears that the finding of a need for a strong steel industry being crucial to the nation’s national security is a foregone conclusion. The question is what will the remedy be? It appears that is not as easy to answer as the administration may have thought when they ordered the report.
Trump has 90 days after receiving the report to announce his decision.
I want to take a moment to welcome our newest members and let them know that we are here to help answer questions that you may have about the industry. We appreciate comments, questions and suggestions as that is the only way we can work to improve. You can reach us at info@SteelMarketUpdate.com or you are welcome to contact me directly at John@SteelMarketUpdate.com or by phone at 800-432-3475.
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
Cliffs came tantalizing close to buying U.S. Steel in 2023. There were rumors in 2024 that Cliffs might buy NLMK USA before it ultimately purchased Stelco for $2.5 billion in November of last year. Who would have thought that asset sales would have been the focal point of discussion just six months later?
Final Thoughts
Given the news about tariffs and bringing back industries to the US, a brief look back in time may show how our economy changes with technological advances and the shifting economies of scale.
Final Thoughts
We’ve talked about tariffs ad nauseam for much of the year. And I’m afraid this topic isn’t going away anytime soon. There’s a feeling that the tariff “can” will just be kicked down the road again and again, and again.
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.