Final Thoughts
Final Thoughts
Written by Becca Moczygemba
April 27, 2023
The NexGen Metals Community held its first webinar on Wednesday, featuring special guest Philip K. Bell, president of the Steel Manufacturers Association. The webinars provide an opportunity for NexGen members to get up close and personal with some well-known, highly experienced individuals in the steel industry.
Bell generously shared 45 minutes of his time with a group of up-and-coming industry professionals. During that time, he discussed his own career path and various ways young professionals can grow their own career.
When I ask people what they love most about the steel industry, they typically say the people and relationships. Along with career advice and words of wisdom, Bell shared with the group the importance of expanding one’s network and knowledge. And that through your network you can expand your knowledge. But that advice doesn’t apply to only industry newbies. Everyone can continue to grow their network, whether for business deals or just to have someone to talk with and discuss market conditions.
The Global Steel Climate Council (GSCC) announced the draft of the Steel Climate Standard this week. (In case you missed it, we wrote about it here.) To create a global standard for steel production is not only a massive undertaking, but a significant evolution. As the industry changes, we will all have to adjust and change with it. It is truly a pivotal time in the history of steel, and we get to be part of it. It’s the perfect time for more experienced individuals to mentor those who are just starting or who are growing. Through mentorship, the knowledge of today gets passed down to the movers and shakers of tomorrow. Whether it’s career advice or technical knowledge, it’s all valuable.
The GSCC is affording the public an opportunity to review the Steel Climate Standard and leave their comments. I’m curious to hear what people in my network think about it, and it will definitely be a topic of discussion for quite some time. What will the steel industry look like five or ten years from now? Though we can’t know for sure, we can continue to cultivate an environment where we are always talking and teaching, listening and learning.
By Becca Moczygemba, becca@steelmarketupdate.com
Becca Moczygemba
Read more from Becca MoczygembaLatest in Final Thoughts
Final Thoughts
Tariff-related noise aside, there is one basic factor keeping buyers on the sidelines. Despite recent declines, HR prices remain at historically high levels. And there is no obvious support to keep them there.
Final Thoughts
United Airlines raised eyebrows earlier this month when it provided two forecasts for 2025 – one assuming a relatively stable economy and another assuming a recession. The reason? Uncertainty around the impact of President Trump’s policy shocks on the broader economy. And it sometimes feels like we’re seeing a battle between those two narratives (stable vs recession) play out within in the pages of this newsletter.
Final Thoughts
Despite some scary headlines lately (especially about Trump potentially firing Fed Chair Jerome Powell) this is not October 2008 (financial crisis) or March 2020 (onset of the pandemic). But it sure seems like we’ve taken a relatively strong economy and poured a thick sauce of uncertainty over it.
Final Thoughts
I put some of our survey data through ChatGpt, with interesting results.
Final Thoughts
Nearly 50% of respondents to our latest survey thought hot-rolled coil prices have already peaked. And where will those prices be two months from now? Responses were decidedly split on that question.