Final Thoughts
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Final Thoughts
Written by John Packard
March 10, 2017
The scrap market created a lot of buzz over the past two months that resulted in, so far, two domestic steel mill price increases totaling $60 per ton ($3.00/cwt). I got a note over the weekend from one of the national companies who told me about the scrap markets, “There is a sense the market is overextended at this point, especially on prime grades. I’m not sure we’ll necessarily see a significant pullback in April given ore-based metallics prices and robust demand, but a pause and/or slight pullback would not be surprising.”
The scrap markets ended up as follows:
HMS (heavy melt) = $275-$290 per gross ton
Shredded scrap = $315-$330 per gross ton
Prime grades (busheling) = $390-$415 per gross ton
Pig iron has limited availability at $380-$395 per metric ton, New Orleans (NOLA).
At the FMA Conference in New Orleans last week I asked SMA President, Philip Bell about the high tonnage of cold rolled and coated products still coming into the United States. He responded to my question and part of his answer referenced the amount of money the domestic mills are making on those two products as a reason why he did not believe there would be any more trade cases filed. Philip Bell will be participating in our 7th SMU Steel Summit Conference on August 28-30, 2017.
A note about our Steel 101: Introduction to Steel Making & Market Fundamentals workshop. We are sold out for our April 11-12, 2017 workshop in Toledo, OH and we have a wait list building. The workshop coming up after Toledo will be in Fontana (Los Angeles), California and our tour will be of the California Steel Industries steel mill. We will advise the exact dates as we are working on hotels right now but we are aiming for late June to no later than mid-July 2017. We hope to have all the details on our website by the end of this week. If you have any questions feel free to contact us at: info@SteelMarketUpdate.com.
I will have more regarding a couple of the presentations from last week’s FMA/ASD Conference later this week. I am waiting for the Power Point presentations from a couple of the speakers.
I will be in the office all week this week and I can be reached at: John@SteelMarketUpdate.com or 800-432-3475.
As always, your business is truly appreciated by all of us here at Steel Market Update.
John Packard, Publisher
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John Packard
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Final thoughts
Sheet prices didn’t roar back after Labor Day. But steel market news sure came out of the gate strong (or maybe chaotically is the better way to put it). First, the nearly $15-billion proposed sale of U.S. Steel to Nippon Steel exploded into the news. And when I say exploded, I mean that all sides seem to be escalating things now.
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Final thoughts
Welcome back from Labor Day, from Steel Summit, and from whatever fun you might have had over the long weekend. Personally, I enjoyed camping with friends and family near Starved Rock. No one starved, there were no major injuries, and we enjoyed the many splendors of Mystical Fire. (Speaking of which, does that have industrial uses? But I digress.)
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Final thoughts
I want to say a huge ‘thank you’ from all of us at SMU to all of you (more than 1,500!) who attended Steel Summit this year. We appreciate you taking time out of busy schedules to join us – whether that was up on stage, submitting thoughtful questions, or catching up over a drink and bite to eat. Also, a bit shoutout to everyone at SMU and at CRU who made this event possible. It’s no understatement to say that we have a fantastic team.
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Final thoughts
Day one and two of SMU's Steel Summit 2024 are officially in the books. We covered a lot of ground, and the agenda sure did deliver.
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Final thoughts
The big show is just about here. SMU Steel Summit will be getting underway on Monday. Where does the networking begin? I’d say at the airport. So don’t forget your business cards. And it can't hurt to wear a company golf shirt.