Final Thoughts

Final Thoughts
Written by John Packard
June 11, 2018
I (and the SMU team) are firmly ensconced in trying to learn all we can about our new owners the CRU Group, while at the same time answering questions from them about our products and services and how we can provide the most value to our members. One of the first things that came up is the CRU Group briefing, which will be held in New York City on June 25.
I will be heading to New York City on the 25th of June as I will be participating in the CRU Group Briefing, which is being held at the Westin Times Square Hotel that afternoon. The CRU Group is inviting any of the Steel Market Update member companies to join them at this free event. You can register for the CRU Group briefing by going to this link: http://bit.ly/2JDdMnN
I have sat in on a recent CRU Group webinar about the Section 232 issues affecting the steel and aluminum markets and it was quite good. I think our SMU members who are traveling to NYC for the various meetings would enjoy joining us at the Westin on Monday afternoon. If you have any questions, feel free to reach out to me at John@SteelMarketUpdate.com
If you use Google Chrome as your web browser, you may have experienced an issue registering for the SMU Steel Summit Conference. It is due to a security update; if you update your browser you will be able to register on our website. If you have any issues, contact Brett Linton at 706-216-2140.
I will also be at the Bank of America Merrill Lynch dinner on Monday evening, June 25th in New York City.
On the 26th of June, Diana and I will be traveling to London for the first time to meet the staff at the CRU headquarters. Prior to going to London, I will be traveling to Pittsburgh next week to meet the CRU staff here in the United States.
As always, your business is truly appreciated by all of us here at Steel Market Update.
John Packard, President & CEO

John Packard
Read more from John PackardLatest in Final Thoughts

Final Thoughts
As Wolfe Research’s Timna Tanner put it in her opening talk at Tampa on Monday afternoon, we’re living in a world of “Trumplications” now. That probably means – at least in the short term – higher scrap costs, lower imports from countries hit with or threated tariffs, and higher steel prices. SMU data reflects that. Scrap went up in January. More than 75% of the respondents to our more recent survey expect scrap to go up again February, maybe by a lot. Lead times, meanwhile, have been ticking upward this month. It started with hot-rolled coil and plate earlier this month. Now we’re seeing coated lead times extending too.

Final Thoughts
We joked in our last Final Thoughts that Wiley trade attorney Tim Brightbill – one of the nation’s leading experts on trade law and policy – would probably be revising his presentation on Trump, trade policy, and tariffs for the Tampa Steel Conference. He did. And even after those last-minute revisions, he actually got trumped […]

Final Thoughts
The whole SMU team is packing up our laptops and our SMU polos/cardigans, loading up the PowerPoint slides, and preparing to make the trek down to Florida for the Tampa Steel Conference. There will be plenty to talk about!

Final Thoughts
From one group of folks, I’ve heard that Trump might not wait until Feb. 1 – the date he threatened on to place tariffs on China, Canada, and Mexico. They say he could act as soon as Friday. And then there are those who don’t think anything will happen before April 1. That’s the deadline for Commerce, Treasury, and USTR to submit key reports on “America First Trade Policy” to President Trump.

Final Thoughts
Trump made a clarification in a speech on Monday. Previously, he had declared the word “tariff” the most beautiful word in the dictionary. No longer.