Final Thoughts
Final Thoughts
Written by John Packard
June 7, 2019
This coming week will be a full week when I will be in my office. I am ecstatic. As with most weeks, this coming one will be spent trying to figure out what will cause this market to turn around. On Tuesday, I will publish our analysis of service center spot pricing to their end customers based on last week’s flat rolled and plate steel market trends survey. Have we reached the point of capitulation? If so, how much longer can service centers continue to drop prices and dump inventory? For that matter, how much longer (and lower) can the domestic mills go before they have no choice but to try to change momentum and move prices higher (or at least stabilize them)?
One of the other items I am working on this week is finishing negotiations to select our next Steel 101 workshop, which I anticipate will be held during the later part of September.
Registrations for the 2019 SMU Steel Summit Conference are approaching 700 with a little more than two months to go. I want to remind everyone who has not made hotel reservations that as of late last week we still had rooms at the Atlanta Airport Marriott (not the Gateway) which is located one exit south of the convention center. We will be running a shuttle between that hotel and the convention center during the conference. There may also be a few rooms left at the SpringHill Suites Gateway Hotel. You can use the links for the hotels by clicking on them. We also have lodging links on our website for our room blocks: www.SteelMarketUpdate.com/events/steel-summit (click on the lodging tab).
I want to welcome our newest members and I encourage you to interact with us should you have a question or suggestion. We look forward to speaking with all of our members. You can reach us at info@SteelMarketUpdate.com
If you want information about becoming a subscriber, or wish to renew or upgrade an existing membership, please contact Paige Mayhair at 724-720-1012 or Paige@SteelMarketUpdate.com
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
I’m not sure how many different ways I can write that it’s been a quiet market ahead of Independence Day. There are variations on that theme. I’ve heard everything from the ominous “eerily quiet” to "getting better" and even the occasional “blissfully unaware” (because I’m enjoying my vacation).
Final Thoughts
What's going to be the next big thing in steel?
Final Thoughts
Based on the amount of ‘out of office’ replies we’ve been receiving and the results of this week’s steel buyers’ survey, those pesky summer doldrums have arrived for the steel industry.
Final Thoughts
Maybe some of this uncertainty will get ironed out ahead of Liberation Day tariffs resetting higher rates on July 9. But if I had to place a wager, it would be on more drama and last-minute brinksmanship - whether it comes to the Liberation Day tariffs or the various Section 232s that are in the works.
Final Thoughts
What should you keep your eye on, considering the latest geopolitical events?