SMU Community Chat

Register Now for Weds Community Chat With Timna Tanners!

Written by Michael Cowden

July 11, 2023

Join us for SMU’s next Community Chat webinar with Wolfe Research managing director Timna Tanners.

The webinar will be held on Wednesday, July 12, at 11 a.m. ET. It’s free for all to attend. A recording will be available to SMU members. You can register here.

Timna Tanners

We’ll talk about what Tanners describes as “the myth of mill discipline.” Yes, the domestic sheet industry is more consolidated than it used to be. But do the “big four” mills – Nucor, Cliffs, SDI, and U.S. Steel – really have as much clout as advertised?

Mills in Canada continue to march to their own beat. And some of the “smaller” competition is not very small. ArcelorMittal, for example, the largest steelmaker outside of China, has significant sheet capacity in both the US (AM/NS Calvert) and Canada (Dofasco).

We’ll compare the consolidation in the US sheet market to that of the domestic rebar market. Guess which is more disciplined?

We’ll also talk about the galvanized market, which has quietly seen significant capacity expansion – even as HRC capacity growth garners more attention. Coated products, meanwhile, are also subject to more import competition.

Could the sheet storm come with a layer of zinc? Tune in on July 12 to find out!

PS – Tanners will also be speaking at our Steel Summit conference, the premier flat-rolled steel event in North America, on Aug. 21-23 in Atlanta. You can learn more about the event and sign up to attend here.

By Michael Cowden, michael@steelmarketupdate.com

Michael Cowden

Michael Cowden is editor-in-chief for Steel Market Update. Cowden has covered the steel industry since 2007. He specializes in flat-rolled steel but has also reported on steel long products, steel pipe and tube, and aluminum. Before joining SMU, Cowden held reporting jobs at Fastmarkets AMM in Chicago, the Associated Press in Pittsburgh, and the Cambodia Daily in Phnom Penh. He has also worked as a copy editor and in marketing at the University of Chicago Press. Cowden has a BA in English from the University of Chicago and an MSJ journalism from Northwestern University’s Medill School of Journalism. Contact him at michael@steelmarketupdate.com or 724-759-7872.

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