Final Thoughts
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Final Thoughts
Written by John Packard
March 7, 2018
I am in Scottsdale, Ariz., attending the Fabricators and Manufacturers Association (FMA) annual meeting. I was asked to speak on a panel with Nucor Executive Vice President for Flat Rolled Ladd Hall and Don McNeeley, President of Chicago Tube and Iron. The timing of the conference couldn’t have been better for the fabricators, toll processors and service centers who made up the majority of the 300 attendees. President Trump was the main topic since he was about to announce his final decision on Section 232 tariffs.
Dr. Chris Kuehl of Armada Corporate Intelligence and FMA’s Chief Economist began his comments with, “We have been treating the steel industry as an industry bastard-child for years.” That theme leaked into other presentations including the Packard, Hall and McNeeley panel.
The opinion of those on my panel was that the 25 percent tariff the president was about to announce was nothing more than a negotiating position, giving the president some leverage over NAFTA negotiations and trade negotiations with others around the world.
A number of the manufacturing companies in the audience were concerned about their ability to compete against foreign manufactured products. They are also concerned about what will happen when they have to re-quote manufactured parts to end OEMs, and then that business is shopped because of the severe increase in steel costs.
I will have much more on the FMA conference in Sunday’s issue of our newsletter.
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.