• Skip to main content

    Analysis

    Final Thoughts

    Written by John Packard


    On Friday morning I will be speaking with John Ferriola, Nucor’s CEO, going over some of the topics we will discuss during our one-on-one on stage at this year’s SMU Steel Summit Conference. I would like to offer our readers an opportunity to send me your thoughts on what you would like to learn from the Nucor CEO. What question(s) do you think I should be asking him about the mill, the economy, his relationship with the president, rumors about companies for sale – what would you like to know?  Send your comments/questions to: John@SteelMarketUpdate.com

    Some notes about our SMU Steel Summit Conference. Registrations have hit 880 executives and we continue to get new people registering every day. We could very well top 900 steel and manufacturing executives. We will have more details about the breakdown of the audience when we “officially” open the conference on Tuesday. OK, I know I just confused some of the newbees who have never been to a SMU Steel Summit Conference over the past couple of years. Our conference will begin with our “Pre-Summit” events at 1 p.m. (Note: this is a change in the start time) on Monday, Aug. 27.

    Latest in Analysis

    Price: Blue wave may rock tariff boat, but some ships like Section 232 aren’t sinking

    The midterms are over, and Democrats will control both chambers of Congress in January. In this space last week, Lewis Leibowitz predicted that President Trump's tariffs, including Section 232, may not last much longer. We disagree. To be sure, the new Congress will change trade policy. It will hold hearings, write bills, and almost certainly revisit the trade dispute with Canada. But the foundation of US trade policy is unlikely to be disturbed. Section 232 and Section 301 are established, court-tested authorities that both parties have used. They are also working.

    SMU Survey: Current and Future Steel Buyers’ Sentiment Indices rise

    SMU’s Current and Future Steel Buyers’ Sentiment Indices increased this week, according to our latest market survey.   Every two weeks, SMU polls thousands of steel-industry executives, asking them to rate their companies’ chances of success today and also three to six months down the road. We use their responses to calculate our proprietary Current and Future Steel Buyers’ Sentiment Indices, measures tracked since 2008.

    US heating and cooling shipments fall for third straight month

    US shipments of heating and cooling equipment slipped in September for a third consecutive month, according to the latest data from the Air-Conditioning, Heating, and Refrigeration Institute (AHRI). Shipments declined 2.6% month on month (m/m) in September, after having fallen 10% m/m in August. The monthly pace marks the third-slowest shipment rate year to date. Historically, shipments are strongest in early summer and weakest around the turn of the year, driven by seasonal air conditioner and heat pump volumes. AHRI's data shows September shipments totaled 1,687,240 units, down 2.6% m/m but up 7.7% year over year (y/y) (Figure 1, left). From August to September, shipments of warm air furnaces, A/C, and heat pumps declined, while water heater shipments rose. Compared with a year earlier, only air conditioners and heat pump shipments were higher.