Steel Products

Economist Alan Beaulieu to Speak at 2018 SMU Steel Summit Conference.
Written by Tim Triplett
January 19, 2018
Popular economist Alan Beaulieu of ITR Economics will make another appearance as a keynote speaker for Steel Market Update’s premier event, the 2018 Steel Summit Conference, set for Aug. 27-29 at the Georgia International Convention Center in Atlanta.
Beaulieu will offer an insightful overview of U.S. economic trends and their implications for those associated with the manufacturing, distribution and the greater steel industry.
No doubt, foreign trade and the Trump administration’s renegotiation of the North American Free Trade Agreement will be a hot topic. “We can ill afford to alienate our North American trading partners given their importance to our domestic economy via exports,” Beaulieu says. “This is why we do not believe there will be major injurious changes to NAFTA; doing so would be illogical. We also cannot afford to alienate Europe as a trading partner. We will have to adjust our forecasts if there are major changes in our trade agreements with these regions.”
Many underestimate the importance of exports to U.S. economic growth, Beaulieu says. Exports of goods and services for the 12 months ending September 2017 accounted for 11.8 percent of GDP or $2.295 trillion in nominal dollars. “Most people seem to think we are a minor exporter compared to China and other countries. The reality is that we are the second largest exporter of goods and services in the world measured in U.S. dollars. We sell capital goods like aircraft, automobiles and machinery to a host of nations. Thanks to fracking, we now export oil, too.”
Three factors support exports through at least the near term, Beaulieu says: For one, the U.S. makes goods other nations want to buy. “There is a plethora of auto manufacturers around the world, yet cars made in the U.S. are in demand elsewhere” Two, economies of Europe, Canada, Mexico and China are expanding, which makes it possible for others to buy U.S. goods and services. And third, the [weakening] value of the U.S. dollar is favorable for exports through at least the near term.
“Do not buy into the myth that the U.S. cannot compete globally, and that we do not sell goods to other countries. It is simply not true,” Beaulieu says. “Instead, we encourage you to strategize on how to do business with the companies that make these exported products or become an exporter yourself.”
Registration is open for the 2018 event, our 8th SMU Steel Summit Conference. We welcome anyone interested in the greater steel and manufacturing industries. The 2018 SMU Steel Summit Conference will be the largest steel conference in North America for the second year.

Tim Triplett
Read more from Tim TriplettLatest in Steel Products

Stelco Considering Bid for U.S. Steel: Bloomberg
Canadian steelmaker Stelco Holdings Inc. is now in the mix to purchase U.S. Steel, according to an article in Bloomberg on Thursday, which cited people familiar with the matter.

HRC Futures Market Takes Off
After a quiet couple of weeks, the futures market has recently come to life over the last three days, and is starting to show some bullish signals.
SMU Spotlight: Tim Saxon Talks Electrodes
When you think about the steel industry, steel mills and service centers are probably at the forefront. But there’s one specific component that often flies under the radar: graphite electrodes.
Deacero Set to Invest $1B in New EAF Mill and Plant Updates in Mexico
Mexican steelmaker Grupo Deacero will invest $1 billion over the next three years as it plans to expand its steel production by 1.2 million tons per year, according to a local report.
Market Chatter This Week
On Monday and Tuesday of this week, SMU polled steel buyers on a variety of subjects, including steel prices, demand levels, sheet prices abroad, inventory, the UAW strike, and what people are talking about in the market