Final Thoughts
Final Thoughts
Written by John Packard
March 16, 2015
I want to shout out to all of the people who worked on tonight’s newsletter as this has been a particularly hectic day for me due to my travel schedule. Brett Linton and Sandy Williams both did great jobs (as usual) as they bounced from subject to subject and article to article. Peter Wright continues to provide great insights as does Damon Sun from an Asian scrap perspective. Thank you all.
This is a busy issue due to the release of the MSCI data, March import license data, our flat rolled steel price ranges and indices as well as numerous articles regarding China and its exports, both around the world and into the United States. We have received a number of questions about the possibility of AD (anti-dumping) suits on light flat rolled (cold rolled and coated) so I wanted to do my best to get good information out there to our readers. A special thank you to attorney’s Lewis Leibowitz (consumer advocate) and Roger Schagrin (mill advocate) as well as former AIIS president, David Phelps for their help in getting me quality information for you to review.
I hope that those of you who are on a free trial to our newsletter are getting a sense of the dedication we put into each and every issue. It is not enough to just give an answer to a question, when possible we will go the extra mile to research the issue and provide details that our readers can then act upon as needed.
We do the same thing in our workshops and conferences. Our goal is to both educate and entertain. We want our attendees to feel like they got more than a one night stand and rather the beginning of a long term relationship. We have a couple of workshops coming up in the coming months: Managing Price Risk II (modified to add a new instructor to the mix) which will be held in Chicago at the end of April and Steel 101: Introduction to Steel Making & Market Fundamentals which will be held on May 19-20 just outside of Chicago (Merryville, Indiana) which will also include a tour of the NLMK Indiana steel mill. Details can be found on our website in the Events section or, feel free to contact our office: 800-432-3475.
As always your business is truly appreciated by all of us here at Steel Market Update.
John Packard, Publisher
John Packard
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Final Thoughts
Nucor said it is seeking $740 per short ton (st) for hot-rolled (HR) coil this week, up $20/st from last week. USS, meanwhile, is shooting for up $30/st for sheet products in general. (USS did not announce a target price for HR.)
Final Thoughts
We all know the American news cycle moves pretty fast. Viral today, cached tomorrow. So it is with the US presidential election on Tuesday, Nov. 5. People have election fatigue. They've moved on to other things like planning holiday parties, debating Super Bowl hopefuls, or even starting to look forward to our Tampa Steel Conference in February.
Final Thoughts
U.S. Steel plans to increase sheet prices by at least $30 per short ton (st). That's something we haven't seen for a while.
Final Thoughts
SMU's hot-rolled (HR) coil price slipped this week to $685 per short ton (st) on average. We also adjusted our sheet momentum indicators to lower for the first time since July.
Final Thoughts
When a mapmaker constructs a map, it’s always to the contours of the land. Or sea. That is, the mapmaker doesn’t say, “Look, these rocks really don’t belong here, so I’m not going to include them in the harbor map.” Uncharted rocks, sink ships (along with loose lips).