Final Thoughts
Final Thoughts
Written by John Packard
June 1, 2018
Steel Market Update will be conducting our early June flat rolled and plate steel market analysis beginning at 8:30 a.m. ET on Monday. If you receive an invitation to participate, please take a few moments to open the email and answer the first question at the bottom of the message. That will take you to the rest of the survey, which shouldn’t take more than a few minutes to complete. If you would like to be added to the invitation list, please contact us at info@SteelMarketUpdate.com.
I am traveling on Monday as SMU is conducting a Steel 101 workshop in Memphis, Tenn., in conjunction with Nucor Hickman and Nucor-Yamato on Tuesday and Wednesday of this week. I anticipate there will be many of you who may want to contact me; you can do so by sending messages to my email: John@SteelMarketUpdate.com or on Monday afternoon I should be available on my cell phone: 770-596-6268.
During my absence this week, you can reach Diana and Alison in our main office: 772-932-7538 or Brett Linton in his office: 770-596-6268. Tim Triplett can be reached in his office outside of Chicago at 630-513-5916. I will return to my office on Friday morning, June 8.
By the way, our next Steel Training workshop will be something a little different. We will be going to the brand-new AK Steel research facility and then touring their Middletown fully integrated steel mill. AK Steel is a leader in the development of advanced high-strength steels (AHSS) for automotive and other applications. The dates on this workshop are Sept. 18-19, 2018. We will be providing more details and starting the registration process in the next week or so. Stay tuned.
Registrations for the 2018 SMU Steel Summit Conference are approaching 600 executives. I remind everyone that last year we had 667 registrations and 650 attendees (17 got stuck in Houston due to the hurricane). There are still 84 days to go before the beginning of our conference on Monday afternoon, Aug. 27. The conference will conclude that Wednesday afternoon at 3 p.m. ET. The Atlanta airport is but a few minutes away. We do not restrict anyone from attending. If you have any questions about the conference, go to our website: www.SteelMarketUpdate.com/Events/Steel-Summit or contact our office at 772-932-7538. There is a list of attending companies on our website. If you have already registered, feel free to tell your suppliers and industry-related friends about our conference. It will be the premier steel event of the year in North America.
If you have not yet booked your hotels, I suggest you do so very soon. If you are having any issues finding a hotel, Brett Linton may be able to help, at least get the right phone numbers or website link. Our room blocks are very close to being sold out, so time is of the essence. Brett can be reached at Brett@SteelMarketUpdate.com.
This is going to be an exciting week for SMU, those attending our Steel 101 workshop and for the greater steel industry as everyone tries to make sense of the latest moves by the Trump administration.
This reminds me, SMU tries to take as neutral a path as possible when it comes to political topics and, unfortunately, the steel industry has become a political football. For us, it is not important whether the president is making good decisions about trade with other countries. Our goal is to try to provide as much information as possible. If you don’t agree with our coverage or have opinions that you do not feel are being represented, please send us an email at info@SteelMarketUpdate.com and we will do our best to address your issues.
As always, your business is truly appreciated by all of us here at Steel Market Update.
John Packard, President & CEO, Steel Market Update
John Packard
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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?
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.
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.
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).
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!