Final Thoughts
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Final Thoughts
Written by John Packard
August 1, 2014
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Word from the street (rumor mill) has three companies bidding for the Gallatin Steel mill: CSN out of Brazil, Nucor and Steel Dynamics.
This could be the last chance for CSN to expand their presence in the United States. With consolidation of the Severstal and ThyssenKrupp Steel USA assets combined with the closure of RG Steel and the questions arising from financial issues at Essar Steel Algoma, CSN has to seriously consider their substrate issues.
Steel Dynamics may have interest because the purchase of Severstal Columbus does not address the need for a internal substrate supplier for The Techs.
One of the analysts told us during a conversation that the investor community was disappointed that Nucor didn’t make a charge after any of the Severstal assets. They expect Nucor to make a move and expand. Most of Nucor’s flat rolled steel capacity is located in the south so a Kentucky based mill may assist in their move to expand into more northern business. Besides, a Nucor joint venture service center, Steel Technologies does the pickling for Gallatin. That business could be at risk is the mill is purchase by another mill. Nucor also has an intact cold mill that they purchased from Sparrows Point when RG Steel was dismantled.
Another mill to watch is US Steel. Mario Longhi made it quite clear that the mill had to embrace EAF steelmaking in order to cut costs and survive.
Our understanding is bids for Gallatin are due by the middle of this month.
Stay tuned.
As always your business is truly appreciated by all of us here at Steel Market Update.
John Packard, Publisher
The timing is just right…Come join us in Atlanta on September 3 & 4.
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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.