Final Thoughts
Final Thoughts
Written by John Packard
July 29, 2015
First, I want to thank a number of our readers who went out of their way to compliment Steel Market Update on our coverage of the cold rolled trade case in Tuesday’s issue. My background is such that I have been on both sides of the fence – both at a steel mill and representing trading companies. I have also worked with manufacturers around the country as they struggled to remain competitive in a global economy. Our newsletter will not take sides but we will try to present as many opinions and angles to the story as possible. If you have an opinion that you would like to share you are welcome to send it to me at: John@SteelMarketUpdate.com.
On Saturday of this week Steel Market Update will begin our 8th year. We incorporated and began officially selling our newsletter and services on August 1, 2008. One of our early customers (and one of my former steel customers) didn’t know what I would write about after the first 30 days… I guess we fooled him! Thank you to everyone who has helped myself and our team keep Steel Market Update running and competing against those that are bigger, stronger and better financed. Your business has been truly appreciated.
It was a little odd seeing Steel Market Update name in print in a legal petition asking for Critical Circumstances by the domestic mills. No one told us ahead of time and I only discovered that we were cited as a source of industry information (worldwide) when I read a copy of the 63 page document. So, any of you out there who are on a trial to our newsletter – if the mill attorney’s believe what we say… well, what are you waiting for? You can register to become our newest member on our website or, you are welcome to contact our offices at 800-432-3475 (706-216-5440).
Are you attending #SteelSummitConference this year? We will have a big announcement early next week. Hint, it has to do with your mobile device…
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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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.