Final Thoughts
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Final Thoughts
Written by John Packard
May 9, 2014
Last week was a busy week with scrap prices for May coming into focus, our beginning of May flat rolled steel survey having been completed and getting more information about the possible sale of the Severstal NA assets made for an interesting week. On top of that SMU conducted one of our Steel 101 workshops. We have a busy issue for a Sunday evening and our Premium Level customers will receive another special supplemental issue tomorrow with a number of articles (plus our survey power point is now online).
Last week I interviewed Saikat Dey who is the CEO of Severstal North America. During our interview we touched on a number of subjects. One of the subjects was foreign imports. Dey told SMU, “I am not against imports as long as they are fair. What is not supportable is unfair trade practices.” He told us, “Imports are symptoms of world over-capacity.” However, he felt that some in the steel industry have become “obsessed” with the subject and have begun to lose focus. North American steel mills have become, “myopic in our view of the world…The steel mills are too focused on Washington and what they can do for us instead of what we can do for ourselves.”
A reminder to those of you who are interested in expanding your knowledge about hot rolled coil derivatives and the various strategies which can be used to protect margins or inventory values, offer long-term fixed pricing, etc. and how to execute those strategies – we invite you to participate in our new Managing Price Risk II: Strategies & Execution workshop which will be held in Chicago on June 24 & 25th. More details can be found on our website. Note: This is not the same as our original Managing Price Risk workshop. The new workshop is geared toward identifying solutions to a specific goal and then working on executing trades (and what to do in various scenarios). If you have specific questions we recommend you contact Andre Marshall of Crunchrisk, LLC. Andre can be reached at: Andre.Marshall@crunchrisk.com or by phone at: 713-401-9146.
We also want to remind our readers that Steel Market Update will be conducting a Steel Summit Conference on September 3 & 4, 2014 in Atlanta, Georgia. We are completing our program and should have announcements out very soon.
As always your business is truly appreciated by all of us here at Steel Market Update.
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.