SMU Community Chat

SMU Community Chat: Join Timna Tanners of Wolfe Research on Weds at 11 a.m. ET

Written by Michael Cowden

Timna Tanners, managing director of equity research at Wolfe Research, will be the featured speaker on our next SMU Community Chat

The chat will be on Wednesday, Feb. 7, at 11 a.m. ET. You can learn more and register here.

What we’ll talk about

Galv galore! Scrap Squeeze! Sheet Storm!

Clever catch phrases aside, we’ll talk about increased capacity not only of hot-rolled (HR) coil but also of coated products. How will that tonnage fit into the market: Will it displace imports, collide with older capacity, or ramp up into a domestic market that needs more steel?

We’ll talk about raw materials, too. The sheet market risks being oversupplied as new capacity ramps up. But could the scrap market risk becoming undersupplied as new electric-arc furnace (EAF) mills try to draw on a raw material that was once abundant but won’t be in the future?

Finally, we’ll talk news. It’s an election year. Steel will be a part of the conversation again. Former President Donald Trump said he would, if elected, block Nippon Steel’s $14.1-billion acquisition of U.S. Steel. What does that mean when valuing shares of U.S. Steel in particular and steel assets more broadly speaking?

We’ll take your questions, too. So think of some good ones and throw them in the Q&A on Wednesday!

Editor’s note: Check out SMU’s Community Chat page if you’d like to see recordings of past webinars, including our last one with CRU principal analyst and iron ore expert Erik Hedborg.

Michael Cowden

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