Final Thoughts
Final Thoughts
Written by John Packard
August 25, 2022
We hosted the greatest conference we have ever held over the past few days. This year’s SMU Steel Summit Conference smashed attendance records with 1,291 registered attendees. This does not include the dozens who networked in the lobbies of the four hotels surrounding the Georgia International Convention Center.
It was a wonderful and emotional experience for me. After 45 years in the steel industry, it was time to personally say goodbye to those who helped my career, and to those who have supported Steel Market Update over the years. I want to thank all of you who approached me during the conference and shared your stories about coming to the conference, interacting with Steel Market Update, or who were customers when I was actively selling steel. Your kind words were very much appreciated and warmed my heart and soul.
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As with every SMU Steel Summit Conference, we had some surprises for the audience. There were also some for me. The SMU and CRU teams made sure that I knew how much my work has been appreciated. I want to thank the CRU Events Team: Nicola “Nicky” Coslett, Emma Phillips, Paul Terry, Marlea Stockenberg, Kieran Proverbs, Sabine Kilgus, and Jill Waldman.
I also want to thank the Steel Market Update team who not only assisted with the conference but who also managed to publish Tuesday evening’s issue without missing a beat: Michael Cowden, David Schollaert, Brett Linton, Laura Miller, and Becca Moczygemba. Rest assured, the SMU newsletter is in good hands.
Although I am retiring, I will remain visible within the greater steel community. My plans are to attend the 2023 Tampa Steel Conference, which will be held in Tampa on February 5-7. Work has already begun to put together a fabulous program for the Tampa event.
Plans are also underway for the 2023 edition of the SMU Steel Summit Conference. Mark your calendars and block off August 21-23. The conference will be held at the Georgia International Convention Center in Atlanta, just as we have for the past half dozen years.
One week from today, I will be working on my golf game (invitations to play are always appreciated). I will continue writing the book I have been working on for my children. I will be planning trips both here in the US and internationally. I will be working with Reibus, where I sit on the board of directors, to see what I can do to assist their growth. I also sit on the board of trustees for Hamline University. So I will continue to be busy as I transition to the next stage of my life.
Over the next few issues, I intend to tell a few stories, and to provide some color as to what issues I think companies, and individuals within the industry, need to think about.
For those of you who would like to reach out to me I have provided both my business and personal email addresses as well as my phone number below.
As always, your business is truly appreciated by all of us associated with Steel Market Update.
John Packard, Founder
770-596-6268
John Packard
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Final thoughts
SMU has heard from some larger buyers who have stepped back into the market to buy at prices that, if not at a bottom, they assess to be close to one. Is it enough to stretch out lead times and send prices upward again? Or do we continue to scrape along the mid-$600s per short ton (st) as we have been doing for most of the last month?
Final thoughts
Cleveland-Cliffs Chairman, President and CEO Lourenco Goncalves had some insightful things to say today about the steel market and about a conference we suspect might be Steel Summit.
Final thoughts
They say a picture is worth a thousand words. Well, when you add in some commentary from respected peers in the steel industry to those pictures, that may shoot you up to five thousand words, at least. In that spirit, we’ve added some snapshots from our market survey this week, along with some comments from market participants.
Final thoughts
I thought we’d have more clarity this week on Section 232, Mexico, and a potential carve-out for steel melted and poured in Brazil. As of right now, the only official comment I have is from the Office of the United States Trade Representative (USTR).
Final thoughts
There are just 40 days left until the 2024 SMU Steel Summit gets underway on Aug. 26 at the Georgia International Convention Center (GICC) in Atlanta. And I’m pleased to announce that it's official now: More than 1,000 people have registered to at attend! Another big development: The desktop version of the networking app for the event has officially launched!