Final Thoughts
Final Thoughts
Written by John Packard
February 1, 2017
I debated about just changing our Price Momentum Indicator to Neutral just on hot rolled and cold rolled and leaving galvanized at Higher. The pricing pressure on coated products spot negotiations does not appear to be necessary when looking at the lead times. The question then becomes are the lead times perhaps a bit “padded,” as many customers are advising SMU that their orders are coming in early?
A galvanized focused service center told SMU this afternoon that the spot market was “a mixed bag.” He was concerned that spot prices out of service centers were beginning to drop and the market was much more competitive. He also told us that the spot market for his mix of galvanized products was very slow.
One of the steel mills (conversion mill) told us today that they just closed their order book for February and since their order book is 50 percent contract they are now into the 3rd week of March lead times….
The Steel 101 workshop for Toledo, Ohio is open for registration. The dates are April 11 & 12,2017 and the mill tour will be at the North Star BlueScope steel mill in Delta, Ohio. Registration and information about the workshop can be found on our website: www.SteelMarketUpdate.com. “Overall, a job well done explaining steelmaking and the market fundamentals to a varied audience. Whether you’re eight weeks or eight years in the steel business, there’s something in it for you.” Kari LaHaie, Magic Steel
Registration is also open for our 7th Steel Summit Conference which will be in Atlanta, Georgia on August 28, 29 & 30th at the Georgia International Convention Center. Our host hotel will once again be the Atlanta Airport Marriott Gateway Hotel plus their sister properties located across the street. “Anyone who is involved in the flat rolled business who does not attend this conference is missing out on an opportunity to grow personally as well as returning value to their organization.” Shane Morris, Commodity Manager, Crown Equipment Corporation
More information about the conference can be found on our website: www.SteelMarketUpdate.com
I want to also take a moment to thank our sponsors who have already committed to this year’s conference: Pacesetter, Bank of America, Mill Steel, Heidtman Steel, Alliance Steel, Magic Coil Products, Kenwal Steel, Midwest Materials. We have a limited number of sponsorships left. You can find a brochure on our website or contact us at: info@SteelMarketUpdate.com and we can provide one to you and advise what options are still available. We also have a limited number of exhibition booth space available as well. Questions? Call me at 800-432-3475.
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
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.
Final Thoughts
What’s been the impact of tariff threats on prices and demand? In short, not much – or at least that was the case when I was writing this column on Sunday afternoon. Spot activity for Canadian material, for example, has been put on hold over the last few weeks while the market waits to see what the new tariff landscape might look like.
Final Thoughts
Next Monday marks the start of the second Trump administration. The limbo we’ve been living in since Election Day in early November will finally come to an end. What better way to take a look at what’s coming up in Washington, D.C., than a conversation with Steel Manufacturers Association (SMA) President Philip K. Bell. He […]
Final Thoughts
It’s another week of big headlines and ho-hum pricing moves – which is to say the start of 2025 is looking a lot like the end of 2024. Scrap has settled up $20 per gross ton (gt). Steel prices, however, were a soft sideways this week. Chalk it up to uneven demand and abundant supply. And while we’re not aware of any major outages, some of you tell us that you’ve lost some shipping days here and there because of the recent cold snap.
Final Thoughts
I wrote in a Final Thoughts a few years ago that it seemed all the swans were black. More recently, I’ve been asked by some of you what the wildcards are for 2025. You could probably make the case that all the cards are wild now.