Final Thoughts
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Final thoughts
Written by Ethan Bernard
December 10, 2023
Steel-tide Greetings
‘Twas two weeks before Christmas, and at our publication
We kept logging steel price increases from across our fair nation.
Up hot rolled, up cold rolled, and galvanized coil.
On Galvalume and plate — gushing skyward — like a geyser of oil.
Blink for a moment and you might miss a hike,
Oh what a change from the United Auto Workers strike.
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Discuss prices at your holiday party but do practice moderation
As you sip on spiked eggnog and discuss decarbonization.
Will the EU and US agree, or will we see some global sheriff
Ride into Washington and pronounce a world carbon tariff?
Maybe start a little smaller, a more realizable goal,
Hang up our stockings and receive metallurgical coal.
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Though it’s true some say Old Saint Nick is not real,
The same can’t be said for the much vaunted “green steel.”
Lower and lower the carbon goes, the greener it gets,
Are we reaching net zero soon, is anyone taking bets?
Carbon capture, hydrogen, the only limit’s the sky
As long as we don’t end up getting taken over by AI.
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Here at SMU, we wish you all a joyful holiday season.
Join us soon in Tampa, in Florida, the weather sure is pleasin’.
There’ll be much to learn and discuss, old and new friends aplenty,
It will be 2024, a real blank slate, let’s finally forget 2020.
So two weeks before Christmas, and if you’ve also got that holiday feel
Don’t hesitate to drop us a tip: Who’s going to buy U.S. Steel?
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Are you shivering through the season? Beat the winter blues and get a jump on all things steel at our 35th Annual Tampa Steel Conference. Rooms are filling up fast. Register here.
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Ethan Bernard
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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?
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/gears.png)
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.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/gears.png)
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.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/gears.png)
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).
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2023/11/SMU-Steel-Summit.png)
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!