Final Thoughts
Final Thoughts
Written by John Packard
June 4, 2018
It has been an incredibly long day as we went on two mill tours and taught a Steel 101 classroom session. As I write my final thoughts for this evening, we are on our way back to Memphis where we will muster our strength and head out to our Steel 101/Nucor cocktail party and dinner before returning to my hotel room to work on tomorrow’s classroom session as we complete our Memphis workshop.
I will return to my office late in the day on Thursday, and then I think I will be there until I head to New York City on the 25th of June where I will attend a CRU event and then host the Bank of America Merrill Lynch dinner.
Our next event is our 8th SMU Steel Summit Conference. I don’t have the exact number of registrations at this moment, but we are closing in on 600 with just slightly less than three months to go.
If you haven’t made your hotel reservations, you need to do so quickly. We are down to minimal rooms in the Gateway block and we have about 80 rooms at the Atlanta Airport Marriott block. See our website for more details, www.SteelMarketUpdate.com/Events/Steel-Summit.
Thank you to Nucor Hickman and Nucor-Yamato for their gracious hospitality today. Our group enjoyed both mills immensely.
As always, your business is truly appreciated by all of us at Steel Market Update.
John Packard, President & CEO
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!