Final Thoughts

March 23, 2018

I will be traveling beginning on Tuesday afternoon as I head to Chicago to conduct one of our Steel 101 workshops. I want to take a moment to thank NLMK USA for their hospitality as we will be touring their Portage minimill on Wednesday of this week. I will not return to my office until next Monday, April 2. During my absence, I can be reached on my email or you can contact our office at info@SteelMarketUpdate.com.

Our next workshop will be held in Memphis, Tenn., and will include (for the first time) two mill tours. We will tour Nucor Arkansas (Hickman) and Nucor-Yamato, which is a beam and Castrip mill. You can find more information about the Memphis Steel 101 workshop on our website: www.SteelMarketUpdate.com/events/steel101

If you need to contact our office next week, please contact Diana or Alison at 772-932-7538. They can handle payments, questions about Steel 101 or SMU Steel Summit, handle registrations or any issues that you might be having with your account.

Bloomberg is reporting that the U.S. and South Korea are close to a final deal that will provide a cap on the tonnage of steel Korea will be allowed to send to the United States. Philip Gibbs with KeyBanc Capital Markets expressed an opinion that the goal may be to cap at 2017 import levels. He is of the opinion if that were the case the U.S. mills would gain market share in the pipe and tube markets.

This would be bullish for hot rolled steel usage and pricing.

It was a crazy week last week and I expect nothing but more of the same this week. Not a good time to go on vacation…

As always, your business is truly appreciated by all of us at Steel Market Update.

John Packard, Publisher