Final Thoughts
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Final Thoughts
Written by John Packard
March 14, 2014
Tomorrow is St. Patrick’s Day – it is also the beginning of the Steel Market Update flat rolled steel market analysis for mid-March. Invitations should be out around 8 AM ET. If you receive one please take a few minutes to click on the link contained in the email and respond to our questionnaire.
John Temples will be at the SBB/Platts North American Scrap and Steel Conference this week in Chicago as I travel to Orlando to speak to the Association of Steel Distributors. Next week I will be traveling to Toronto to speak to the Toronto Steel Buyers and Associates dinner on March 26th (please send warm weather to Toronto).
A note that we still have openings in our next Steel 101 workshop at The Henry Hotel (named after Henry Ford) in Dearborn, Michigan. The workshop will include a tour of the fully integrated Severstal Dearborn steel mill. The program and registration are available on our website or you can contact our offices for more information: 800-432-3475.
I have been asked my opinion on whether or not the domestic steel prices have halted their slide and if they will rise from here. I have asked those questions in this week’s survey and I don’t want to push the responses one way or another. But, I will address the issue as the week progresses.
Is there a chance the domestic mills may announce a price increase – maybe as early as this week? Prices are down $65 per ton from the peak (more if you count what the domestic mills last price increases were calling for – hot rolled base prices in excess of $700 per ton). AK Steel has nothing to lose – they essentially aren’t in the spot market so it wouldn’t take much for AK to lead the way. However, I think the mills will want the increase to stick if any when they do announce one. So, the real question is are mill order books strong enough to support a buyers strike should buyers decide the increases are not yet warranted?
If you are not taking our survey and would like to throw in some comments on the subject please send me an email: John@SteelMarketUpdate.com
While I am collecting opinions I have another question for those of you who are interested in attending our Fall 2014 Steel Summit Conference. I have held preliminary talks with a group who specializes in non-ferrous metals. There is a chance we can dedicate a portion of time (or a sub-program) for those interested in non-ferrous metals (aluminum, copper, zinc, etc.). If this is something that would be of interest to you and your company please send me an email: John@SteelMarketUpdate.com.
As always your business is truly appreciated by all of us here at Steel Market Update. Tell your friends, co-workers, suppliers and customers about SMU.
John Packard, Publisher
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John Packard
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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.
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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.)
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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.
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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.
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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.