Final Thoughts
Final Thoughts
Written by John Packard
January 5, 2018
As of late Friday, Steel Market Update ferrous scrap sources reported that scrap negotiations were ongoing and had not yet settled for the month of January. We heard late in the week of one Detroit-area mill paying up $20 per gross ton on prime grades and up $30 per gross ton on cut grades. We expect the market to break open early this week, and we should have more on where prices settled in Tuesday evening’s issue of Steel Market Update.
This week will be an interesting one to see how much the steel mills truly want to collect the $40 flat rolled and $50 plate (Nucor, others expected to follow) price increases. Early indications are for $680-$700 hot rolled offers, which would be about $40 per ton higher than where our index was prior to the announcements.
We still have a few sponsor spots left for the 2018 SMU Steel Summit Conference. We have a number of companies procrastinating. I always try to get the sponsors cemented in as early as possible since this impacts what we will do regarding our ticket prices. The sponsors also want to be in as early as possible so that when we start our marketing efforts, we try to mention our sponsors and provide as much exposure as possible. Right now, we have the following sponsors: Pacesetter, Bank of America, Flack Global Metals, Heidtman Steel, Nucor, Magic Coil Products, Mill Steel, MidWest Materials, Red Bud Industries, All Metals Service and Warehousing and Alliance Steel.
We have plenty of exhibition space, which for 2018 will be configured differently as we expand our footprint in the Georgia International Convention Center. We believe the new location for breaks and the exhibition space will provide even more exposure for our exhibitors.
If you have any questions about SMU Steel Summit sponsor or exhibitor spots, please contact Jill Waldman at Jill@SteelMarketUpdate.com or myself at John@SteelMarketUpdate.com.
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
And just like that, we’re wrapping up the last SMU newsletter of 2024. We’re closing out our 19th year and looking with wide-eyed anticipation to what 2025 will bring.
Final Thoughts
SMU looks back at stories from Decembers past, one, five, 10, and 100 years ago.
Final Thoughts
It's that time of year again. You know, that time when people wonder if those things are drones in New Jersey or if the aliens are ready to come onto the stage just in time for Inauguration Day. What will that do for steel price volatility? In any case, the SMU team finds itself in Pittsburgh this week.
Final Thoughts
The Community Chat last Wednesday with ITR economist Taylor St. Germain is worth listening to if you couldn’t tune in live. You can find the replay and Taylor’s slide deck here. You can also find SMU reporter Stephanie Ritenbaugh’s writeup of the webinar here. Taylor is Alan Beaulieu’s protégé at ITR. Many of you know Alan from his talks at SMU Steel Summit. I found Taylor’s analysis just as insightful as Alan’s.
Final Thoughts
Cracks have formed in what has been presented as the Biden administration’s united front against Nippon Steel’s play for U.S. Steel. A report from the Financial Times said parts of the administration are at odds on the deal.