Crunch Risk is a price risk management and brokerage firm specializing in a suite of futures contracts in ferrous metals and base metals. Andre has over 25 years of commodity trading and financial risk management experience. He is also the instructor for Steel Market Update’s Managing Price Risk workshops.
Ferrous scrap prices began to trade this afternoon with obsolete grades dropping by $20 per gross ton, and prime grades (busheling, bundles) by as much as $40 per gross ton. McKinley will discuss trading volumes and scrap availability. He will also provide a forecast for what he thinks the scrap markets will look like in the coming months as well as out into the future when Big River Steel, Steel Dynamics and Nucor bring up new flat rolled and plate steel mills.
Steel Market Update will host the next SMU Community Chat webinar. Guest speaker will be Eddie Lehner, President & CEO of Ryerson, one of the largest flat rolled and plate service centers in North America.
Applied Value works on the buy side of the industry. We anticipate discussing the overall industry perspectives on production, consumption and pricing. We will cover the current negotiation situation with steel mills and service centers with end users. We will also cover what manufacturing companies (OEMs) are doing to cover supply issues and managing any shortages. Applied Value will discuss with SMU how OEMs are revaluing their supply chains and managing risks by reshoring parts back to North America.
Banker is well known to the SMU community as one of the key executives at NLMK USA. The NLMK steel mills produce hot rolled coils from scrap in their Portage, Ind., minimill. They have two mills in Pennsylvania, one which rolls hot rolled and cold rolled steels out of slabs, and the second is the former Winner Steel (which SMU President & CEO John Packard used to represent), now called NLMK Sharon Coatings, a galvanized coil producer.
The pandemic has not stopped Section 232, anti-dumping and countervailing duties and other trade remedies enjoyed by the domestic steel mills. There is also the new USMCA agreement with Mexico and Canada, as well as the China trade deal. Then there is the exclusion process related to the Section 232 tariffs. There is much to cover, so please come join us next Wednesday, June 3rd as Mr. Leibowitz sits down to have a one-on-one chat with John Packard, President & CEO of Steel Market Update.
Zekelman Industries buys 200,000 tons of steel each and every month. Their customers are associated with construction, energy, agriculture and many other market segments critical to the steel industry. Zekelman Industries is a large provider of steel for “The Wall” between the United States and Canada. As a $2.7 billion pipe and tube manufacturing company, they are in a unique position to comment on the status of the U.S. economy, and to provide color on what will happen over the next 3, 6, 12 months.
Unlike some other analysts, Anton and IHS don’t expect a V-shaped recovery for the U.S. economy. Just because the economy plunged so sharply following the government shutdowns to stem the spread of COVID-19 doesn’t mean the upturn will be equally sharp. The economy is more likely to experience a protracted U-shaped recovery that will take years, not months, Anton said, as it undergoes structural, not just cyclical, changes.
Dr. Chris Kuehl is the Managing Director of Armada Corporate Intelligence. He provides forecasts and strategic guidance to a wide variety of corporate clients around the world. Kuehl has spoken at numerous SMU Steel Summit Conferences where his free-wheeling style both informed and entertained.
Tanners raised eyebrows last year with her prediction that the mills' many planned capacity additions would oversupply the market in the next few years and cause "Steelmageddon," a dramatic drop in steel prices. As it turns out, it's the coronavirus pandemic that has wrought a sort of armageddon on the global economy and steel prices. Rather than adding capacity, the mills are now taking dramatic steps to curtail production and align it with the weak demand.
Ken Simonson, self-proclaimed optimist and chief economist for the Associated General Contractors of America, offered a fairly pessimistic forecast for the construction sector during Wednesday's SMU Community Chat.
On Wednesday, April 22, at 11:00 a.m. Eastern Time, Steel Market Update will host our next SMU Community Chat Webinar. We will feature Bernard Swiecki of the Center for Automotive Research (CAR). This webinar is open to anyone in the steel community and is complimentary. We will discuss the automotive industry in North America and how it is being impacted by the COVID-19 virus, and what the industry will look like once people return to work.
Mr. Raimondo will discuss how the coronavirus is impacting his business, the steps he has taken to keep employees and customers safe, the strength of Behlen’s order book, and how the company is dealing with the future uncertainty in the agriculture, metal building and fabrication markets.
On Wednesday, April 8, SMU will host our first SMU Community Chat webinar. The webinar will be hosted by SMU President & CEO John Packard and will feature Josh Spoores, CRU Principal Analyst and Editor of the CRU Steel Sheet Monitor.