SMU Community Chat

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

February 2, 2024

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

Michael Cowden is managing editor for Steel Market Update. Cowden has covered the steel industry since 2007. He has since 2014 specialized in flat-rolled steel but has previously reported on steel long products, steel pipe and tube as well as aluminum. Before joining SMU, Cowden held reporting jobs at Fastmarkets AMM in Chicago - where he was involved in launching AMM's daily hot-rolled coil index, 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.