Steel Products
Final Thoughts
Written by John Packard
February 18, 2013
Monday is technically a holiday in the U.S. but Steel Market Update offices are open. For those who are confused with my travel schedule recently – I am no longer on the west coast – I have returned to our offices on the east coast. I can be reached at 800-432-3475 or by email: John@SteelMarketUpdate.com.
We have begun taking registrations for the next Managing Price Risk workshop which will be held in New York City at the CME (NYMEX) building which is across the street from 1 World Trade Center. Our online registration form and the full program should be online later this week. The workshop is for those involved (or interested in trading) the hot rolled coil futures, options as well as ferrous scrap futures through the NYMEX/CME platforms or OTC (over-the-counter). Andre Marshall, CEO of Crunch Risk, LLC and one of the most active brokers in the HRC and scrap futures markets is our instructor. Working with Andre and myself is the CME Group.
SMU has been conducting these workshops for a couple of years and we find they are excellent for those wanting to gain more exposure and understanding to the derivatives markets and how to use (and not use) them. If you have any questions please feel free to contact me in my office: 800-432-3475.
As always your business is truly appreciated.
John Packard
Read more from John PackardLatest in Steel Products
Active rig counts stable in US and Canada
US drill rig activity saw a slight increase from last week but continues to hover near multi-year lows. In Canada, rig counts dipped last week but near one of the highest levels recorded in the past seven months.
Nucor (officially) holds plate prices steady again
Nucor said it would keep plate prices unchanged in a letter to customers on Wednesday. The Charlotte, N.C.-based steelmaker in addition said it was opening its November order book for plate. The company did not specify what its plate price was. It has officially kept prices flat since cutting them by $125 per short ton (st) on July 1.
Worthington Enterprises taps Hayek as president, CEO
Worthington Enterprises has named Joseph Hayek as the company’s next president and CEO, effective Nov. 1. He will replace Andy Rose, who is retiring.
AISI: Steel shipments rose month over month in August
Domestic steel shipments increased month over month but slipped on year in August.
CRU: US longs prices remain mostly flat in October
CRU Senior Steel Analyst Alexandra Anderson shares insight into the current market for long steel products.