Final Thoughts
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Final Thoughts
Written by John Packard
March 21, 2016
Steel mills are still scrounging for ferrous scrap with little luck. We are hearing from our scrap sources that prices could be up as much as $30 per ton and we have even heard some numbers higher than $30. The net result will be more pressure on steel and steel prices as the mills scramble to keep their scrap pipelines full.
A reminder that I will be attending the Association of Steel Distributors (ASD) meeting in Naples, Florida at the end of next week. If you would like to meet with me during the ASD meeting please shoot me an email: John@SteelMarketUpdate.com or a text to: 770-596-6268.
Everyone thought iron ore prices would drop back to $40/dmt on 62% Fe fines into China. That has not happened. According to The Steel Index (TSI) iron ore was trading at $57.9/dmt this morning. In the last four weeks ore is up +14.7 percent.
Zinc has been trading higher over the past 60 days having moved from $0.70 per pound to $0.8441 per pound. Aluminum, however, is back to $0.6707 per pound about the same price as 60 days ago.
Another reminder to “Save the Dates” of August 29-31, 2016 for our 6th Steel Summit Conference. We added another speaker today: Tony Taccone of First River Consulting. I have heard Tony speak on a number of occasions and I think he will be well received by our attendees. If you can’t make it – send someone else from your company or at least tell your friends, customers and suppliers. We have a tremendous program this year. You will not be disappointed. More information can be found on our website.
As always your business is truly appreciated by all of us here at Steel Market Update.
John Packard, Publisher
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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.