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    Analysis

    Final Thoughts

    Written by John Packard


    In my last Final Thoughts article, I began to answer a question posed to me regarding what I felt were the most important lessons I have learned over the course of my 45-year career in the steel industry. I wrote about honesty as being the simple answer and many of you have contacted me to agree with that insight.

    I then went on to tell the story of the relationship I had with one of the owners of a company who purchased steel from me early in my career, and how that relationship taught me a very important lesson. The lesson learned was how to deal with the difficulties associated with the education of a customer, especially when that education causes the customer to be perceived as having done something foolish or embarrassing. Relationships are important. But in the end, it’s all just business – and you can’t lose sight of that.

    Latest in Analysis

    November scrap prices rise as market nears settle

    November scrap procurement has commenced in the US with buyers divided on the price increases from the previous month. Several mills reportedly sought a rise of $20 per gross ton (gt) while others saw $30/gt as the number. The $30/gt price tag mainly applies to the obsolete grades, like shredded, P&S and #1 HMS, with prime grades pulling up the rear at $20. SMU spoke to a Chicago-based source who said that market was up $30/gt and 20/gt on shredded and busheling, respectively. He also mentioned the integrated mills in this district are after heavier grades like P&S and railroad grades, like wheels. These grades have been in short supply since last summer. Our source believes they commanded prices up $30/gt while busheling was at plus $20.