Market Data
Lourenco Goncalves “Hopes Will be High for New Administration”
Written by John Packard
November 8, 2016
At the end of August Cliffs Natural Resources Chairman, President and CEO, Lourenco Goncalves spoke at the SMU Steel Summit Conference in Atlanta. During his “fireside chat” with SMU founder and publisher, John Packard, Goncalves was upbeat about the future of the steel industry and of the United States.
Later, in comments made before SMU cameras Mr. Goncalves said despite what happens in the presidential election, he is hopeful for a recovery in the steel market regardless of who is elected to be the new President.
“No matter who wins in November we are going to be fine, and we are going to be talking in a very positive way next year at this conference.” Lourenco Goncalves, SMU Steel Summit Conference, August 31, 2016.
Here is a video of Mr. Goncalves statement to Steel Market Update:
John Packard
Read more from John PackardLatest in Market Data
Chicago Business Barometer improves but still contracts in October
The Chicago Business Barometer’s October reading still indicates a cooling in general business activity despite posting a surprise gain.
Drilling activity slows at October’s end in US and Canada
The latest Baker Hughes rig count report showed oil and gas drilling slowing in both the US and Canada last week.
SMU flat-rolled market survey results now available
SMU’s latest steel buyers market survey results are now available on our website to all premium members.
SMU Steel Demand Index improves but remains in contraction
SMU’s Steel Demand Index remains in contraction, according to late October indicators. Though growth faded at a slower pace, it rebounded from one of the lowest readings year-to-date from earlier in the month.
SMU Mill Order Index fell in September
SMU’s Mill Order Index declined in September after repeated gains from June through August. The shift came as service center shipping rates and inventories fell.