Final Thoughts
Final Thoughts
Written by John Packard
June 8, 2015
Hello from New York City, the Big Apple, the friendly city (oh, that’s somewhere else…). If you have $20 for a drink (bar brand) and $50 for breakfast (for 2) it’s a great place to be, even better if you are on an expense plan with your company. Darn, I own this one…
I’ve managed to meet with close to 50 companies during my first full day in New York (I am here because of Steel Success Strategies which attracts steel people to New York like buzzards on road kill). After I finish this newsletter I will do the late rounds and maybe rub shoulders with another 20 to 50 steel people in various levels of coherence (at the bar). A few drinks loosens up the lips and gets the gums a flappen…
I will keep my final thoughts short because I will do all of you more service by rubbing shoulders with more steel people thank trying to blind you with my usual BS.
And, no commercials in final thoughts.
As always your business is truly appreciated by all of us at Steel Market Update.
John Packard, Publisher
John Packard
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United Airlines raised eyebrows earlier this month when it provided two forecasts for 2025 – one assuming a relatively stable economy and another assuming a recession. The reason? Uncertainty around the impact of President Trump’s policy shocks on the broader economy. And it sometimes feels like we’re seeing a battle between those two narratives (stable vs recession) play out within in the pages of this newsletter.
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Despite some scary headlines lately (especially about Trump potentially firing Fed Chair Jerome Powell) this is not October 2008 (financial crisis) or March 2020 (onset of the pandemic). But it sure seems like we’ve taken a relatively strong economy and poured a thick sauce of uncertainty over it.
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I put some of our survey data through ChatGpt, with interesting results.
Final Thoughts
Nearly 50% of respondents to our latest survey thought hot-rolled coil prices have already peaked. And where will those prices be two months from now? Responses were decidedly split on that question.