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    Leibowitz: Don’t Just Stand There, Do Something!

    Written by Lewis Leibowitz


    These days, there seem to be many emergencies. The impulse of government leaders often is to declare a crisis and then succumb to a dangerous tendency — don’t just stand there, DO something!

    Last June, the President issued a proclamation on imports of solar panels and cells, declaring a national emergency on the supply of components for solar projects. There was, the President declared, a shortage of equipment for solar projects. Solar cells and panels were needed for building renewable energy projects, and domestic production was inadequate to meet the need. On top of that, a small solar energy producer filed a petition to expand the reach of antidumping and countervailing duties on Chinese products to solar arrays from four Asian countries — Cambodia, Vietnam, Malaysia, and Thailand.

    Lewis Leibowitz, SMU Contributor

    Lewis Leibowitz

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    Mills seek more scrap after lower prices fail to attract tons

    Several mills that bought October scrap early last week are still asking for additional supplies, scrap market participants said. The reason: the mills' initial prices did not attract enough of the raw material, they said. A trading source based in northern Ohio said three mills have contacted his firm seeking offers for additional tons. He said the mills asked for offers even if prices were higher than their original buys last week.

    Nucor increases spot HR to $1,240/ton

    Nucor said on Monday, Oct. 12, that its consumer spot price (CSP) for hot-rolled (HR) coil will be $1,240 per short ton (st) this week, a $10/st increase from a week earlier. The CSP for HR coil from California Steel Industries (CSI) on the West Coast will be $1,305/st, up $15/st from the prior week. Nucor is still offering lead times of three to five weeks, according to the letter to customers. You can track mill price announcements on our website. Steel Market Update (SMU) published a weekly price assessment on Tuesday, Oct. 6, showing HR coil prices averaging $1,270/st, up $10/st from the previous week. We will update our prices on the evening of Tuesday, Oct. 13.