Final Thoughts
Final Thoughts
Written by John Packard
April 21, 2016
Steel buyers need to be aware that there has been a jump in iron ore spot pricing in China over the past 48 hours. The Steel Index (TSI) reported 62% Fe fines into the port of Tianjin, China at $64.3/dmt (dry metric ton) up 4 percent from the previous day. This same item is up just over 10 percent over the past week.
Coming up soon is scrap and we see scrap prices at worst going sideways and more likely prices will rise by $10-$30 per gross ton depending on the item and region.
A special thank you to Preifert Manufacturing for recommending Steel Market Update newsletter, workshops and our conference to a manufacturing company who has just come on as a new member. We encourage (and we will reward) companies who recommend our newsletter to those involved in the steel industry. It is always best for our new customers to hear about us from their suppliers or customers. You are the best versed in what we have to offer and we thank you for your support.
Registrations for our Steel Summit Conference are starting to pick out. One thing I’ve noticed is how many companies are bringing multiple people this year – executives, sales, purchasing, CFO they all seem to be coming – maybe you should too? Registration is open. See you in Atlanta.
Steel 101 workshop in Ohio next month is sold out – thank you and we look forward to our next one which will be in early November in Memphis with a tour of Big River Steel…
As always your business is truly appreciated by all of us at Steel Market Update.
John Packard, Publisher
John Packard
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Final Thoughts
From one group of folks, I’ve heard that Trump might not wait until Feb. 1 – the date he threatened on to place tariffs on China, Canada, and Mexico. They say he could act as soon as Friday. And then there are those who don’t think anything will happen before April 1. That’s the deadline for Commerce, Treasury, and USTR to submit key reports on “America First Trade Policy” to President Trump.
Final Thoughts
Trump made a clarification in a speech on Monday. Previously, he had declared the word “tariff” the most beautiful word in the dictionary. No longer.
Final Thoughts
President Donald Trump on Sunday hammered Colombia with 25% tariffs and threatened to increase them to 50%. Trump in a post on Truth Social said he took the action not because of a trade dispute but because the South American nation had refused to accept planes carrying deported immigrants. The president also cited "national security" concerns, just as he did to justify 25% Section 232 tariffs on steel in his first term. Even the 50% threat echoes his first term. Turkish steel, like that of most nations, was assessed a 25% tariff in March 2018. Trump doubled Turkey's tariff to 50% via a tweet in August of that year over a matter unrelated to steel.
Final Thoughts
We surveyed many of you this week and asked what you wanted to see from the new Trump administration. Responses were varied but fell largely into three groups: tariffs and trade policy, the Nippon-U.S. Steel deal, and those who are concerned about too much government sway in steel. Some also expressed hope that President Trump would continue the infrastructure spending that began under former President Biden.
Final Thoughts
Sometimes new presidential administrations hit the ground running. No time for change like the present. And sometimes new administrations blast off on a SpaceX rocket bound for Mars. There’s a big universe, and we’ve got a lot of flags to plant. Such seems to be the case with the new Trump administration.