Final thoughts

But this comes as fall maintenance outages approach that could take more than 1 million short tons of capacity out of the market. We’re also potentially looking at some trade actions that could further limit supply.

In our outlook panel yesterday, Citi’s Alex Hacking warned that the combination of weak demand and overcapacity in China could spell trouble for the world.

Tristan Gresser of BNP discussed the likelihood of some of those trade actions. And Timna Tanners of Wolfe Research said that new capacity continues to come into the market – not only when it comes to hot-rolled coil (think Sheet Storm) but also when it comes to new galvanizing capacity (think Galv Galore). And this might shrink the premium between HR base prices and tandem products.

But it’s not all doom and gloom

Most of you predicted during the conference’s opening poll that steel prices would be higher next year. You also think that demand will be better next year, with an expected boost of at least 5% over this year.

Michael Smerconish delivered a compelling opening keynote, The Mingle Project, that was both a diagnosis and a prescription of our divided political landscape.

Barry Schneider, Steel Dynamics president and COO rounded out day one, highlighting a vast array of developments in flat-rolled steel and Aluminum Dynamics. We also talked about his days as a guitar player in a rock and roll band playing gigs at Mr. Peabody’s Pub in Cleveland.

Hybar CEO Dave Sticker sat down with SMU Managing Editor Michael Cowden to talk about the latest developments at the new player in the rebar market, the outlook for rebar and construction, and the long-term outlook for scrap. With a plan to build another three or four rebar mills, he was rather bullish on all of them.

Barry Zekelman was again a crowd favorite, weighing in on trade dynamics and policy, mill consolidation, and the potential impact of the presidential election on steel.

And while we heard from Dr. Anirban Basu on his latest economic outlook with a Clint Eastwood themed talk, we also learned about the low Uber rider rating he has collected from his “off-putting” economic questions during ride-share trips.

We also had several great panels covering trade, flat-rolled end markets, and recycled metals. And day two closed with an exclusive interview with Alan Kestenbaum, executive chairman and CEO of Stelco, joining us fresh off the announcement of Cleveland-Cliffs’ acquisition of the iconic Canadian flat-rolled steelmaker.

Big finish to Steel Summit tomorrow

Here’s the program for the final day of SMU’s Steel Summit on Wednesday, Aug. 28, at the Georgia International Convention Center in Atlanta:

7:30 a.m. – Doors open at GICC. All-day beverages sponsored by Felux and continental breakfast sponsored by Fifth Third Bank

8:00-8:30 a.m. – Lobby Stage: The Artful Deal – M&A, Lending and the Future of Your Steel Business

• Andrew Pappas, Managing Director, BMO Bank, N.A.
• Vincent Pappalardo, Managing Director & Principal, Brown Gibbons Lang & Co.

8:30-8:45 a.m. – Opening Remarks by David Schollaert, Senior Analyst/Editor, Steel Market Update

8:45-9:30 a.m. – The Future of the Auto Industry: EVs and the Shape of Things to Come

• Alan Amici, President & CEO, Center for Automotive Research (CAR Group)
• Dan Bowerson, VP Energy and Environment, Alliance for Automotive Innovation
• Dean Kanelos, Market Development and Product Applications Manager, Nucor
• Michael Davenport, Executive Director and President, Auto/Steel Partnership

9:30-10:15 a.m. – Fireside Chat with Dan Needham, Executive VP Commercial, Nucor

10:15-11:00 a.m. – It’s Not Easy Being Green: The Challenges and Opportunities of Decarbonization

• Brenda Petrilena, Director – Global Decarbonization and Program Management, U.S. Steel
• Kyle Nicholas, VP Business Development, Westinghouse
• Don Stevenson, VP of Carbon Management & Conversion, GTI Energy
• Joerg Brinckmann, VP Business Development Coke and Iron, SMS Group

11:00-11:20 a.m. – Networking Break sponsored by Priefert Steel

11:20-12:05 a.m. – Spotlight on Service Centers: Managing Market Cycles and Inventories in Unpredictable Times

• Pam Heglund, CEO, Mill Steel Company
• Geoff Gilmore, President and CEO, Worthington Steel
• Thad Solomon, President and CEO, Steel Technologies

12:05-1:20 p.m. – Dr. Alan Beaulieu, President and Principal, ITR Economics

1:20-1:30 p.m. – Final Thoughts by Michael Cowden, Managing Editor of Steel Market Update

1:30-2:30 p.m. – Lunch sponsored by Priefert Steel

Close of Conference