Final Thoughts

Final Thoughts
Written by John Packard
February 13, 2022
Michael Cowden and I will be joining more than 400 executives from steel mills, trading companies, manufacturing, distribution, logistics, as well as various warehouses and ports this week in Tampa. On Monday afternoon, we will begin the networking portion of the Tampa Steel Conference, now celebrating its 33rd year.
There is still time to register, which you can do by clicking here, or you can register at the door of the event.
We are looking forward to an expanded program, which will begin at 1:30 p.m. on Tuesday afternoon. For those attending, please note that our Trading Panel is being moved from Wednesday afternoon to the end of the day on Tuesday. The cocktail party will begin at 5:15 p.m. instead of 5 p.m. The conference is now scheduled to end by 3 p.m. on Wednesday.
In the morning on Tuesday, we will host a sold-out golf outing, and there will be a second tour of the port facilities.
We are also holding a meeting of the NexGen Youth Steering Committee as we look to form an organization focused on young people associated with the steel industry (mills, distribution, manufacturing, logistics, etc.). You will be hearing much more about the organization in the weeks ahead as the group comes together and moves forward.
Spencer Johnson of StoneX Financial will conduct our first in-person Introduction to Steel Hedging Workshop at the Marriott Water Street Hotel on Monday afternoon and Tuesday morning. You can still register by clicking here.
The SMU and CRU events teams look forward to working with Port Tampa Bay in this our first in-person Tampa Steel Conference since we partnered with them last year. Over time, we anticipate the TSC will be the perfect bookend to the SMU Steel Summit Conference, which will be held on Aug. 22-24 this year.
Speaking of the SMU Steel Summit Conference, we have already begun taking registrations and are already approaching 100 registrants. We are working diligently on the program as we strive to conduct the best networking, most entertaining and most informative conference experience possible. Our goal for 2022 is to exceed 1,200 executives from throughout the steel supply chain. All of the decision-makers will be there. You can secure your place and be able to access our room block (all of the hotels will be sold out) at one of the four Marriott properties next to the Georgia International Convention Center by registering now. You can register by clicking here or going to: https://events.crugroup.com/smusteelsummit/home
As always, your business is truly appreciated by all of us associated with Steel Market Update.
John Packard

John Packard
Read more from John PackardLatest in Final Thoughts

Final Thoughts
A short tour of key dates in the Nippon/USS deal, and what the future might hold.

Final Thoughts
I sort of expected big news last Friday and over the long, Memorial Day weekend. Because that's become more the norm than the exception for steel this year. Sure enough, Trump posted on Truth Social on Friday afternoon that he had given his blessing to a “partnership” between Nippon Steel and U.S. Steel. And then over the weekend we had market moving new on tariffs, this time involving the EU.

Final Thoughts
We're going to have to wait a bit longer for the final outcome of the Nippon/USS deal.

Final Thoughts
Sure, demand isn’t as good the market had hoped it would be earlier this year. But assuming it doesn’t fall of a cliff, buyers will have to restock at some point. And that might give domestic mills enough leverage to raise prices again.

Final Thoughts
While I would anticipate market sentiment to pivot and improve if all the questions around tariffs were answered, that still leaves us with a few other factors.