Final Thoughts

Final Thoughts
Written by John Packard
November 25, 2019
Steel Market Update will not publish on Thursday, Nov. 28, or Sunday, Dec. 1, due to the Thanksgiving Holiday. Our offices will be closed on Friday, Nov. 29, and will reopen on Monday, Dec. 2.
Our early December flat rolled and plate steel market trends survey will begin on Monday, Dec. 2. We will also go out to our service center data providers for their inventory and shipment information on Monday.
I will be traveling to New Orleans on Dec. 7-10 to attend the annual HARDI conference. As many of you are aware, I have been participating in the HARDI steel conference call for a couple of decades, and I speak at their conference. I am looking forward to seeing my wholesaler friends in NOLA.
My next trip after New Orleans will be to Ontario, Calif., where SMU will be conducting one of our Steel 101: Introduction to Steel Making & Market Fundamentals Workshops. The workshop still has plenty of seats available. We will be touring the California Steel Industries (CSI) steel mill as part of our workshop. Our instructors include two metallurgists (Walburn & McDaniels), one sales and consulting expert (Simon), one purchasing and consulting expert (Briccetti) and me with my 42 years of sales, purchasing, management, marketing, reporting and analytical experience. This workshop comes highly recommend by past attendees. You can find more information on our website: www.SteelMarketUpdate.com/Events/Steel101
We want to wish those in the United States a happy and healthy Thanksgiving Holiday with family and friends.
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
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?

Final Thoughts
Not many people in the North American steel market had direct US involvement in another Middle East conflict on their bingo card. Prices weren't expected to shoot higher unless something unexpected happened. That unexpected something has now happened. And there is talk of oil at $100 per barrel. What does that mean for steel?

Final Thoughts
Now that the USS/Nippon deal has been completed, what's next?