Final Thoughts
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/media/k2/items/src/ceea1c7fab940e109aadfc32733906a2.jpg)
Final Thoughts
Written by John Packard
December 2, 2013
It is still early in the process of negotiations between the domestic steel mills and their scrap suppliers. The steel mills are trying to pay the same prices for ferrous scrap as they did during the month of November and the scrap dealers are having none of it. The scrap suppliers are asking for prices to rise by at least $20 per gross ton. The expectation is for the month to have a modest amount of tonnage sold and the projections are at up $10 to $20 numbers. We should have a better feel later this week.
We need to watch the markets carefully over the next few weeks to see if momentum and lead times continue to move in favor of the domestic mills. With cold rolled offers out of China into Houston at $34.00/cwt-$36.00/cwt effective the spread is there to take market share – at least from the mills who supply material along the coasts. Midwest mills may be temporarily isolated due to the close of navigation through the Great Lakes. Although barges can get up the river for April/May deliveries.
As John Temples mentions in his article about Events – registration is open for our Steel 101: Introduction to Steelmaking & Market Fundamentals. You can find information on our website along with registration.
We published our fourth Monthly newsletter today and we will be publishing a Premium Supplement later this week.
SMU has tried to get the message across to all of our members – we need everyone – including the employees who are part of corporate accounts – to log into the new website, adjust your password and complete any missing information on the form presented to you the first time you attempt to log in. We assume you no longer have your user name and password (your old one will not work). Please contact our office in order to receive a new user name and password. Contact us at: info@SteelMarketUpdate.com.
As always your business is truly appreciated by all of us here at Steel Market Update.
John Packard, Publisher, Steel Market Update
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2023/04/john-packard.png)
John Packard
Read more from John PackardLatest in Final Thoughts
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/gears.png)
Final thoughts
Sheet prices didn’t roar back after Labor Day. But steel market news sure came out of the gate strong (or maybe chaotically is the better way to put it). First, the nearly $15-billion proposed sale of U.S. Steel to Nippon Steel exploded into the news. And when I say exploded, I mean that all sides seem to be escalating things now.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/gears.png)
Final thoughts
Welcome back from Labor Day, from Steel Summit, and from whatever fun you might have had over the long weekend. Personally, I enjoyed camping with friends and family near Starved Rock. No one starved, there were no major injuries, and we enjoyed the many splendors of Mystical Fire. (Speaking of which, does that have industrial uses? But I digress.)
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2023/11/SMU-Steel-Summit.png)
Final thoughts
I want to say a huge ‘thank you’ from all of us at SMU to all of you (more than 1,500!) who attended Steel Summit this year. We appreciate you taking time out of busy schedules to join us – whether that was up on stage, submitting thoughtful questions, or catching up over a drink and bite to eat. Also, a bit shoutout to everyone at SMU and at CRU who made this event possible. It’s no understatement to say that we have a fantastic team.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2023/11/SMU-Steel-Summit.png)
Final thoughts
Day one and two of SMU's Steel Summit 2024 are officially in the books. We covered a lot of ground, and the agenda sure did deliver.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2023/11/SMU-Steel-Summit.png)
Final thoughts
The big show is just about here. SMU Steel Summit will be getting underway on Monday. Where does the networking begin? I’d say at the airport. So don’t forget your business cards. And it can't hurt to wear a company golf shirt.