Final Thoughts
Final Thoughts
Written by John Packard
August 10, 2016
On Wednesday morning I received a couple of emails regarding our newsletter that I would like to share with our readers:
“Your newsletter is solid. Lots of real information and educated analysis. Great job. See you soon in Atlanta. Best, Lourenco Goncalves” Mr. Goncalves is the CEO of Cliffs Natural Resources and he and I will have a one-on-one discussion about the industry at our Steel Summit Conference.
An automotive supplier also sent me a note about Tuesday’s issue, “One of the best newsletters all year. The recap of the trade cases was exactly what I needed.” Thank you. We are trying to stay on top of all of the trade suits, Section 337 suit and whatever is going to come next…
We have 17 days to go before the start of our 6th Steel Summit Conference (and those of you who are not going will be so happy when it has come and gone so I don’t keep harping on it). Registrations continue which you can do online at www.SteelMarketUpdate.com or by contacting our office: 800-432-3475 (info@SteelMarketUpdate.com).
It’s a small world. One of the trading companies registered for our conference had to make a change as one of their executives got called to go to Asia. The person replacing their original attendee I have met before – in Brazil in 1986 and I haven’t seen him since. I have a feeling we won’t recognize one another but, I have photos in the mountains outside of Rio as proof. Looking forward to it.
Another reason to attend our conference, you never know who you might meet there.
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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Nucor said it is seeking $740 per short ton (st) for hot-rolled (HR) coil this week, up $20/st from last week. USS, meanwhile, is shooting for up $30/st for sheet products in general. (USS did not announce a target price for HR.)
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We all know the American news cycle moves pretty fast. Viral today, cached tomorrow. So it is with the US presidential election on Tuesday, Nov. 5. People have election fatigue. They've moved on to other things like planning holiday parties, debating Super Bowl hopefuls, or even starting to look forward to our Tampa Steel Conference in February.
Final Thoughts
U.S. Steel plans to increase sheet prices by at least $30 per short ton (st). That's something we haven't seen for a while.
Final Thoughts
SMU's hot-rolled (HR) coil price slipped this week to $685 per short ton (st) on average. We also adjusted our sheet momentum indicators to lower for the first time since July.
Final Thoughts
When a mapmaker constructs a map, it’s always to the contours of the land. Or sea. That is, the mapmaker doesn’t say, “Look, these rocks really don’t belong here, so I’m not going to include them in the harbor map.” Uncharted rocks, sink ships (along with loose lips).