Stelco Inc. CEO Alan Kestenbaum got candid with Steel Market Update’s (SMU) Michael Cowden during the third fireside chat of the 2022 SMU Steel Summit conference. This year was Kestenbaum’s first time speaking at the Summit. Forecasting For the Near Future Though we’ve already seen prices skyrocket and dip back down, Kestenbaum clued us in […]
The trucking industry is undergoing a transformation, according to industry experts speaking at the SMU’s Steel Summit 2022 Conference. Panelists explained how the industry has become more challenging in recent years due to a lack of drivers and trucks, disruptions slowing the supply chain, and changing rules of the road. With new equipment and technology […]
Although traders can sometimes get a bad rap, they play an important role in the steel industry and aren’t going anywhere anytime soon, according to a trade panel speaking at the 2022 SMU Steel Summit conference in Atlanta. As Jerry Richardson, president of CSN LLN, pointed out, traders play many roles. From complying with trade […]
The pulse on this year’s service center health check at SMU’s 2022 Steel Summit was strong. Despite challenging and unpredictable times, service center CEOs remain positive. “It’s challenging, but we’re optimistic. This industry is old and immortal,” said Edward Lehner, president and CEO of Ryerson, speaking on a Summit panel. Through a wave of unexpected […]
Earlier this week, SMU polled steel buyers on a variety of subjects including current and future steel prices, inventory strategies, supply, demand, and new mill capacity. We are sharing the comments we received in each buyer’s own words, rather than summarizing them in ours. We want to hear your thoughts, too! Contact Brett@SteelMarketUpdate.com to be […]
The economy will remain healthy and prosper in the coming years, contrary to what some sources might tell you. That was the prediction from Dr. Alan Beaulieu of ITR Economics in a keynote speech at the SMU Steel Summit in Atlanta this week. Beaulieu remains optimistic about domestic and global health throughout this decade, although […]
The final program of last week’s Steel Summit Conference was a panel of three experts discussing the evolving automotive market and its shift towards electric vehicles (EV). Panelists discussed how the automotive industry is transitioning to electric-vehicle offerings, covering an array of topics such as steel and aluminum needs for EVs, investments by automakers, light-weighting […]
The second fireside chat of the 2022 SMU Steel Summit conference featured Mark Millett, president and CEO of Fort Wayne, Ind.-based steelmaker Steel Dynamics Inc. SMU founder John Packard chatted with Millett about everything from aluminum and the status of SDI’s new mill in Texas, to decarbonization, steel prices, scrap, and electrical steel. Here’s a […]
For the fourth consecutive year, the NexGen Metals Community granted the SMU NexGen Leadership Award to a deserving nominee. This year’s nominees were Ben Bullock of Flack Global Metals, Robert Donovan from Jemison Metals, and the winner, Austin Reynolds of Ace Steel Supply. The award was presented by Phil Bell of the Steel Manufacturer’s Association, […]
Keynote speaker Paul Lowrey presented at the SMU Steel Summit Conference today, explaining his market thoughts through data on US steel market capacity, steel mill consolidation, and the scrap market. As president of Steel Research Associates (SRA) with a career spanning 30 years, Lowrey opened his segment explaining, “I’ve been labeled by some as a […]
Here’s the Steel Summit program for Wednesday, Aug. 24, at the Georgia International Convention Center in Atlanta: 7:30 a.m. – Doors open at GICC. All-day beverages sponsored by Felux and pastries sponsored by Ratner Steel 8:30-8:45 a.m. – Opening Remarks by SMU President and CEO John Packard and Senior Editor Michael Cowden 8:30-9:30 a.m. – […]
A technological revolution and the change to electric vehicles are coming faster than you think, Thomas Hosea, executive director of global purchasing and supply chain (GPSC) central operations at General Motors told attendees of Steel Market Update’s 2022 Steel Summit Tuesday morning in Atlanta. “This moment in time is historic for our company,” the GM […]
Cleveland-Cliffs Inc.’s chairman, president and CEO Lourenco Goncalves joined Steel Market Update senior editor Michael Cowden in the first fireside chat of this year’s SMU Steel Summit conference Monday afternoon in Atlanta. The Cliffs executive educated and entertained conference attendees with the unreserved honesty and candidness he has become well-known for in his long-term career […]
The transformation the steel industry has undergone has been accelerated over the past 18-24 months, with even greater dynamics underway, said a panel of steel executives and analysts during the first day of Steel Market Update’s 2022 Steel Summit conference in Atlanta, Ga. Demand trajectories across regions are diverging, finished steel consumption in China is […]
Gene Marks opened Steel Market Update’s 2022 Steel Summit conference with a keynote zeroing in on the major issues that are impacting business leaders today and in the coming years. The CPA, author, columnist, and journalist explored strategies to help businesses navigate inflation, recessionary pressures, and hiring challenges. With many economic indicators pointing towards a […]
The latest SMU Market Survey results are now available on our website to all Premium members. After logging in at SteelMarketUpdate.com, visit the Analysis tab and look under the “Survey Results” section for “Latest Survey Results.” Historical survey results are also available in the Survey Results section under “Survey Results History.” If you need help […]
This will be my last article prior to the SMU Steel Summit Conference which begins on Monday morning of this coming week. We are now six days away from the start of the conference. As you can imagine, this is a hectic time for the SMU and CRU events teams. Some of the event’s staff […]
On Monday and Tuesday, SMU reached out to numerous steel buyers inquiring about market conditions this week. Sources were asked whether recently announced sheet price increases were sticking, and when they thought hot-rolled coil (HRC) prices might bottom out. The majority of the responses we received suggest that price increases are either partially sticking or […]
Domestic steel groups are supportive of some portions of the recently passed Inflation Reduction Act. The bill is meant not only to make a down payment on deficit reduction to fight inflation but to also invest in domestic energy production and manufacturing. It in addition aims to reduce carbon emissions by 40% by 2030, allow for […]
United States Trade Representative Katherine Tai addressed the 2022 United Steelworkers (USW) Constitutional Convention on Wednesday, Aug. 10. The USW Constitutional Convention is a meeting of delegates from local unions, representing steelworkers from around North America and allowing them to discuss and vote on a variety of topics. Upwards of 5,000 delegates were in attendance, according […]
Eariler this week, SMU polled steel buyers on a variety of subjects including current and future steel prices, price increase announcements, supply, demand, and new mill capacity. Rather than summarizing the comments we received, we are sharing them in each buyer’s own words. We want to hear your thoughts, too! Contact Brett@SteelMarketUpdate.com to be included […]
As of this morning we have 1,155 total registrations for the 2022 SMU Steel Summit Conference. This is a new record, and we still have 13 days before the start of the conference on Aug. 22. You can join these executives by clicking here. We have approximately 50 rooms available at the Atlanta Airport Marriott […]
The latest SMU Market Survey results are now available on our website to all Premium members. After logging in at SteelMarketUpdate.com, visit the Analysis tab and look under the “Survey Results” section for “Latest Survey Results.” Historical survey results are also available in the Survey Results section under “Survey Results History.” If you need help […]
Everguard.ai CEO Sandeep Pandya will be the featured speaker on the next SMU Community Chat webinar on Wednesday, Aug. 10, at 11 a.m. ET. The live webinar is free. A recording will be free to SMU members. You can register here. Sandeep will explain some of the most innovative safety technology advancements —including not only […]
Our events team has informed me that registrations for the 2022 SMU Steel Summit Conference have already eclipsed last year, and we are well on our way to having record attendance. We are passing through 1,100 registered executives, and we still have slightly more than two weeks to go. A couple of quick notes before […]
How do we attract young professionals to the steel industry? A group of seven highly accomplished steel professionals under 40 have come together to provide insights and real solutions. With the help of SMU and CRU, solving that dilemma has become the focus of the NexGen Metals Community, a dedicated professional group founded in early […]
On Monday and Tuesday of this week, SMU polled steel buyers on a variety of subjects including steel prices, supply and demand, and new mill capacity. We are sharing some of the comments we received in each buyer’s own words rather than summarizing them in ours. Want to have your voice heard? Contact Brett@SteelMarketUpdate.com to […]
We have seen a flurry of activity as we begin the countdown to the start of the 2022 SMU Steel Summit Conference, which will be held at the Georgia International Convention Center on August 22-24. I want to commend Jill Waldman and our events team for the work they have done to date, and for […]
The latest SMU Market Survey results are now available on our website to all Premium members. After logging in at SteelMarketUpdate.com, visit the Analysis tab and look under the “Survey Results” section for “Latest Survey Results.” Historical survey results are also available in the Survey Results section under “Survey Results History.” If you need help […]
In my last lessons learned article, I began to answer a question posed to me regarding what I felt were the most important lessons I have learned over the course of my 45-year career in the steel industry. I wrote about honesty as being the simple answer and many of you have contacted me to […]