Final Thoughts

Final thoughts

Written by Brett Linton & Ethan Bernard

May 9, 2024

Last week we wrote about a brief lull in price movement, labeling it a period of wait and see.

It did, in fact, turn out to be pretty brief. This week… things are little bit different. Perhaps right now, following a price decrease that was not priced in to the market, we are more in a period of “hope and pray” or “Here we go, hold on to your hats.”

When things get volatile, especially in prices, it’s often best to return to something solid. Go back to basics, the foundations you can count on. Ground yourself, get earthy, etc.

Coincidentally, this week’s crossword highlights just such a theme: raw materials. From scrap to coal, prepare to roll up your sleeves and dig in.

Note, we’ll be doing a steel-themed crossword every Thursday leading up to our Steel 101 course on June 11-12 in Fort Wayne, Ind. The course includes a tour of SDI Butler, an EAF sheet mill.

Another feature we’ll be introducing is “This week in steel history.” Our inaugural entry is below. If there are any key events in steel that you’d like to highlight, let us know at info@steelmarketupdate.com.

This week in steel history:

The first commercially successful Bessemer steel furnace in the US began operation on May 8, 1864, in Wyandotte, Mich., at the Eureka Iron Co.

Bessemer furnaces were gradually phased out in favor of blast furnaces, with the last US Bessemer furnace decommissioned in 1968.

For any of our veteran readers with great Bessemer yarns, feel free to pass them our way!

Crossword

Click here to attempt this week’s crossword.

Brett Linton

Brett Linton is a senior analyst for Steel Market Update, where he began his career. Linton has been in the steel industry since 2010. He has held roles as a category manager and strategic insights director at Reibus before returning to SMU in 2024. He is a graduate of The University of North Georgia with a degree in Finance and Accounting. Brett can be reached at brett@steelmarketupdate.com or 724-314-0179.

Read more from Brett Linton

Ethan Bernard

Ethan Bernard is a reporter and editor for Steel Market Update. He previously worked for American Metal Market as a copy editor in the New York office for two years starting in 2008. Later, he copy edited AMM’s monthly magazine on a freelance basis from 2015 until 2017. With experience in financial copywriting and textbook publishing, he holds a BA in Comparative Literature from UC Berkeley, and an MFA. in Creative Writing from New York University. He can be reached at ethan@steelmarketupdate.com or 724-759-7871.

Read more from Ethan Bernard

Latest in Final Thoughts

Final thoughts

What's the tea in the steel industry this week? Here's the latest SMU gossip column! Just kidding... kind of. Yes, some of the comments we receive in our weekly flat-rolled market steel buyers' survey are honestly too much to put into print. Some make us laugh. Some make us cringe. Some are cryptic. Most are serious. We appreciate them all. Below are some highlights from our survey results this week. Some of the comments that we can share with you are also included, in italics, in the buyers' own words, with minimal editing on our part.