Steel Products
2022 SMU Steel Summit Conference Update
Written by Michael Cowden
April 7, 2022
2022 SMU Steel Summit
Finally, a note from our founder, John Packard, who wants to make sure all of you are aware of the latest developments for our big event which will be held in Atlanta on the 22nd through the 24th of August.
The following companies registered for the 2022 SMU Steel Summit Conference over the past few days. An asterisk means more than one executive is attending from that company: ANDRITZ Metals USA, Inc.*, BMO Harris Bank*, Central Plains Steel Co., Klauer Manufacturing Company*, Ohio Pickling & Processing*, Steel Technologies Inc.*.
We are on track to meet our goal of having 1,200 executives representing decision-makers in manufacturing, steel distribution, steel mills, trading companies, fabricators, logistics experts, analysts, and many others associated with the greater steel community. You can learn more 
about this year’s conference, costs to attend, and how to register by going to: https://events.crugroup.com/smusteelsummit/home
We are encouraging companies to send younger executives to the conference this year. We will be rolling out special pricing for young people who register to join the SMU NexGen Community. There will not be any fees associated with joining the NexGen Community, and there will be benefits for both the company and the individuals who participate in the group. We will be unveiling much more about the NexGen Community in the coming days.
Under the banner of the NexGen Community will be the SMU NexGen Leadership Award. Nominations are now open. You can find more information about the award, past winners, nominee criteria, and how to nominate someone from your company (or yourself) on our website: https://events.crugroup.com/smusteelsummit/awards
Lourenco Goncalves, CEO of Cleveland-Cliffs has volunteered to participate as the mentor to this year’s SMU NexGen Leadership Award winner.
Later this month, SMU is hosting one of our very popular Introduction to Steel Hedging Workshops (used to be called Hedging 101) with our primary instructor, Spencer Johnson of StoneX Financial. The dates of this virtual event are April 26-27 (half day instruction each day). You can learn more about the agenda, instructors, costs to attend, and how to register by going to: https://events.crugroup.com/steel101/about-steel-hedging-101
Thanks, everyone, for your interest in Steel Market Update.
Michael Cowden
Read more from Michael CowdenLatest in Steel Products
Active rig count update through mid-May
Drilling activity ticked up in the US but declined in Canada during the week ended May 17, according to the latest release from Baker Hughes.
Mexico’s TYASA breaks ground on SBQ rolling mill
Mexican steelmaker Talleres y Aceros (TYASA) broke ground this month on the construction of a new special bar quality (SBQ) rolling mill in the state of Veracruz.
Biden hikes tariffs on Chinese goods, including steel and aluminum
The Biden administration announced a series of actions on Tuesday targeting China’s "unfair" trade policies. These actions will, among other things, make imports of steel and aluminum from the Asian nation even more prohibitive.
Nucor holds weekly HRC price steady after last week’s cut
Nucor chose to hold its consumer spot price (CSP) for hot-rolled (HR) coil steady this week after stunning the market last week with a significant price decline. The steelmaker said in a letter to customers on Monday morning that its $760-per-short-ton (st) CSP base price for HR coil is effective immediately. The price is unchanged from the CSP announced on May 6 but down $65/st from $825/st April 29.
US CR tags ease, premium over imports still high
Offshore cold-rolled (CR) coil prices remain much less expensive than domestic product, even as domestic prices have slipped to a six-month low, according to SMU’s latest check of the market.