Final Thoughts
Final Thoughts
Written by John Packard
March 5, 2018
I’ve lived through all kinds of trade cases, Section 201’s, voluntary restraint agreements – you name it. The U.S. government is not good for the steel industry and is not good for consumers of steel products. Gary Cohn is leaving the White House, apparently a signal that the 25 percent steel tariffs are coming your way… Look for a mess in the stock market tomorrow.
Along with the tariffs will be all of the fallout – including a lot of job losses. Steel buyers need to stay very close to your steel suppliers. You may actually be put in a position where you have to pay 5 percent, 10 percent or more just to get steel in the coming months. Steel prices will rise for sure. The question is will the U.S. get the foreign steel it needs to keep industry supplied with steel?
I spoke with a scrap source today who told me the scrap market is in turmoil and not yet settled. We will have more on scrap in Thursday evening’s issue.
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
I’m not sure how many different ways I can write that it’s been a quiet market ahead of Independence Day. There are variations on that theme. I’ve heard everything from the ominous “eerily quiet” to "getting better" and even the occasional “blissfully unaware” (because I’m enjoying my vacation).
Final Thoughts
What's going to be the next big thing in steel?
Final Thoughts
Based on the amount of ‘out of office’ replies we’ve been receiving and the results of this week’s steel buyers’ survey, those pesky summer doldrums have arrived for the steel industry.
Final Thoughts
Maybe some of this uncertainty will get ironed out ahead of Liberation Day tariffs resetting higher rates on July 9. But if I had to place a wager, it would be on more drama and last-minute brinksmanship - whether it comes to the Liberation Day tariffs or the various Section 232s that are in the works.
Final Thoughts
What should you keep your eye on, considering the latest geopolitical events?