Final Thoughts
Final Thoughts
Written by John Packard
October 9, 2013
The weather in Arkansas couldn’t have been more perfect. We had temperatures in the low 70’s with a cool breeze and sunny. A perfect day to go on a mill tour.
I want to take a moment to thank all of the employees at Nucor Steel Arkansas for hosting Steel Market Update and our Steel 101 attendees earlier today. Nucor opened their doors to us answering all of our questions and allowing us to tour the Nucor Hickman steel facility.
Government shutdown is impacting a number of the economic indicators we track on a regular basis. Hopefully the government will come to their senses and we will be able to provide more information soon.
As always your business is truly appreciated by all of us at Steel Market Update.
John Packard
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Final Thoughts
United Airlines raised eyebrows earlier this month when it provided two forecasts for 2025 – one assuming a relatively stable economy and another assuming a recession. The reason? Uncertainty around the impact of President Trump’s policy shocks on the broader economy. And it sometimes feels like we’re seeing a battle between those two narratives (stable vs recession) play out within in the pages of this newsletter.
Final Thoughts
Despite some scary headlines lately (especially about Trump potentially firing Fed Chair Jerome Powell) this is not October 2008 (financial crisis) or March 2020 (onset of the pandemic). But it sure seems like we’ve taken a relatively strong economy and poured a thick sauce of uncertainty over it.
Final Thoughts
I put some of our survey data through ChatGpt, with interesting results.
Final Thoughts
Nearly 50% of respondents to our latest survey thought hot-rolled coil prices have already peaked. And where will those prices be two months from now? Responses were decidedly split on that question.
Final Thoughts
A modest week-to-week change in HR price understates a huge swing in expectations.