Final Thoughts
Final Thoughts
Written by John Packard
September 18, 2016
With the Wheatland Tube filing of a complaint against China using the ENFORCE Act we are about to enter the next stage of trade complaints. The Wheatland complaint is for circumvention of duties that already exist against Chinese products, so it will be interesting how quickly this first test case takes and will Customs and Border Protection find in favor of the U.S. manufacturer. We will be watching this closely in the coming weeks (and months).
I believe we have two to maybe up to four seats left for our next Steel 101: Introduction to Steel Making and Market Fundamentals workshop which will be held in Memphis, Tennessee and will include a tour of the brand new Big River Steel (BRS) steel mill. The dates are November 15-16, 2016. You can learn more about the workshop on our website: www.SteelMarketUpdate.com or by contacting our office at 800-432-3475.
A note to those attending FABTECH and/or the ASD Annual Conference both in Las Vegas at the end of that same week as our Steel 101 workshop. John Eckstein (one of our Steel 101 instructors) and I will be teaching a “mini” Steel 101 workshop at the Las Vegas Convention Center as part of FABTECH. Our class will be from 8 AM until 10 AM on Friday, November 18th. I hope to attend at least a portion of the ASD meeting as well.
Brett is on vacation for a couple of days. If you need to reach me you can do so by calling 800-432-3475. If you want to reach Diana (pay a bill or have questions about your account) she can be reached at 772-932-7538.
As always your business is truly appreciated by all of us here at Steel Market Update.
John Packard, Publisher
John Packard
Read more from John PackardLatest in Final Thoughts
Final Thoughts
That’s not to say Section 232 shouldn’t be tightened up. Or that certain trade practices – even among our traditional allies – weren’t problematic. But when it comes to the reboot of Section 232, I do wonder whether there will be some unintended consequences.
Final Thoughts
As February comes to a close this week, the scrap markets are poised for another – and perhaps more extreme – move upward in March. March is usually a month when scrap prices relent as winter’s impediments subside. That’s not the case this year. And this time, the driver of prices will be increased demand from mills along with restricted flows over the last two months.
Final Thoughts
The US steel market has whipsawed upward on the prospect of expanded Section 232 tariffs of 25% being applied to imported steel - including downstream goods - on March 12. It seems pretty clear that domestic steel mills have the ear of the Trump administration when it comes to Section 232. The result? The much-anticipated Trump bump has finally arrived - and then some.
Final Thoughts
Some of you have told me that the current market feels about as crazy as early 2021 when demand snapped back after the initial outbreak of the Covid-19 pandemic. Others have said it might be more like late February/early March 2022, when Russia launched a full-scale invasion of Ukraine – and, in the process, caused […]
Final Thoughts
To say we’ve entered a “Brave New World” since Jan. 20 might be an exaggeration, but we’ve definitely entered a different one.