Final Thoughts
Final Thoughts
Written by John Packard
July 10, 2015
Something different from Steel Market Update this week. I would like for you to forward our newsletters to your friends, customers, suppliers or anyone who might have an interest in the steel industry.
We continue to offer an incentive to companies that recommend our newsletter to others. As long as the new customer provides us the name of the company who recommended them, we will provide a $100 credit to the company making the recommendation. This credit can be used at any time during a 12 month period on any SMU product: workshops, conferences or on newsletter upgrades or renewal.
Wednesday of this week will be the last day to register for the 5th Steel Summit Conference at early bird rates. Between now and the end of the day on the 15th our rate is $1000 per person prior to any SMU customer discount (another $100). On Thursday the rate will increase to full price which is $1200 per per and the SMU customer discount will continue up until the day of the conference.
This coming week will be the week to determine if the other mills are going to move pricing in lock-step with US Steel. Last week USS announced a $40 per ton base price increase on spot orders. Their target price has been reported to be $500 per ton on hot rolled coil. We will see if the other mills think now is a good time (and market) to raise prices.
If you have any questions I can be reached by email at: John@SteelMarketUpdate.com or by phone at 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
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.
Final Thoughts
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.
Final Thoughts
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.
Final Thoughts
A modest week-to-week change in HR price understates a huge swing in expectations.