Final Thoughts
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Final Thoughts
Written by John Packard
September 8, 2017
The saga continues as we endeavor to escape the wrath of Hurricane Irma. After leaving Hobe Sound, we settled in Gainesville on the campus of the University of Florida. As the hurricane track began to move a little further west, we decided to do the same and headed into the western panhandle of Florida. That is where we are now and where we expect to remain as the storm heads up the west side of Florida. Our hope is the move west will ultimately be good news for our home and office in Hobe Sound on the east coast. We are keeping our fingers crossed. On Monday, we are expecting sustained winds here in the panhandle of 45 miles per hour (just updated to less than 45 miles per hour as the storm weakens while pummeling Naples).
Our thoughts and prayers are with our friends in south and central Florida. We do not want to forget the impact of Hurricane Harvey on Texas. We recommend that you donate to the American Red Cross (www.redcross.org).
We will be watching carefully to see if other domestic steel mills make similar price announcements as that of AK Steel last week (+$30/ton). There are also questions about how the mills are dealing with the higher zinc costs with zinc closing the week at $1.3747 per pound.
It will take a number of days, if not weeks, to determine what damage has been done to transportation and infrastructure that will impact the steel industry. We will continue to work on learning more about the damage and what is being done to lessen the impact on the economy.
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.