Final Thoughts
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/media/k2/items/src/b539e35b5e55d3f61eed6b52798fee73.jpg)
Final Thoughts
Written by John Packard
March 7, 2018
I am in Scottsdale, Ariz., attending the Fabricators and Manufacturers Association (FMA) annual meeting. I was asked to speak on a panel with Nucor Executive Vice President for Flat Rolled Ladd Hall and Don McNeeley, President of Chicago Tube and Iron. The timing of the conference couldn’t have been better for the fabricators, toll processors and service centers who made up the majority of the 300 attendees. President Trump was the main topic since he was about to announce his final decision on Section 232 tariffs.
Dr. Chris Kuehl of Armada Corporate Intelligence and FMA’s Chief Economist began his comments with, “We have been treating the steel industry as an industry bastard-child for years.” That theme leaked into other presentations including the Packard, Hall and McNeeley panel.
The opinion of those on my panel was that the 25 percent tariff the president was about to announce was nothing more than a negotiating position, giving the president some leverage over NAFTA negotiations and trade negotiations with others around the world.
A number of the manufacturing companies in the audience were concerned about their ability to compete against foreign manufactured products. They are also concerned about what will happen when they have to re-quote manufactured parts to end OEMs, and then that business is shopped because of the severe increase in steel costs.
I will have much more on the FMA conference in Sunday’s issue of our newsletter.
As always, your business is truly appreciated by all of us here at Steel Market Update.
John Packard, Publisher
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2023/04/john-packard.png)
John Packard
Read more from John PackardLatest in Final Thoughts
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/gears.png)
Final thoughts
SMU has heard from some larger buyers who have stepped back into the market to buy at prices that, if not at a bottom, they assess to be close to one. Is it enough to stretch out lead times and send prices upward again? Or do we continue to scrape along the mid-$600s per short ton (st) as we have been doing for most of the last month?
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/gears.png)
Final thoughts
Cleveland-Cliffs Chairman, President and CEO Lourenco Goncalves had some insightful things to say today about the steel market and about a conference we suspect might be Steel Summit.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/gears.png)
Final thoughts
They say a picture is worth a thousand words. Well, when you add in some commentary from respected peers in the steel industry to those pictures, that may shoot you up to five thousand words, at least. In that spirit, we’ve added some snapshots from our market survey this week, along with some comments from market participants.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/gears.png)
Final thoughts
I thought we’d have more clarity this week on Section 232, Mexico, and a potential carve-out for steel melted and poured in Brazil. As of right now, the only official comment I have is from the Office of the United States Trade Representative (USTR).
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2023/11/SMU-Steel-Summit.png)
Final thoughts
There are just 40 days left until the 2024 SMU Steel Summit gets underway on Aug. 26 at the Georgia International Convention Center (GICC) in Atlanta. And I’m pleased to announce that it's official now: More than 1,000 people have registered to at attend! Another big development: The desktop version of the networking app for the event has officially launched!