Final Thoughts
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Final Thoughts
Written by John Packard
March 19, 2018
SMU is receiving many requests for information and help regarding Section 232 exclusions and how to complete the process. We are attempting to assist when and where possible. Trade attorney Lewis Leibowitz is being very helpful when he has time. If you have specific legal issues that are outside of the scope of what we can cover, we recommend that you contact Lewis directly. His contact information is at the bottom of the “Section 232 Exclusion…” article in tonight’s issue.
I participated in a HARDI steel conference call this morning. There were many more people on the call than usual (not a surprise) and there were executives on the call that were willing to provide more information than normal (a pleasant surprise). One of the keys brought up was the idea that availability is going to dominate the industry. Price will be a secondary factor, and the opinion of one service center was prices could go much higher than people may think. Prepare for it.
However, a wholesaler on the HARDI call voiced a different opinion, an opinion we have heard today from others in the industry. This owner told us, “…While I would not discount anything [service center’s owner name not shown] has to say regarding the steel market, we personally do not share in how bullish he is. We feel that managing and mitigating risk may be the biggest challenge we will have to face sometime in the second half of the year. We don’t want to be sitting on too much inventory when prices start back down.”
I want to welcome our newest readers and members (subscribers), as well as those who have upgraded from Executive to Premium service. I want to remind you that we appreciate comments, questions and suggestions from our readers. You can reach me by email at: John@SteelMarketUpdate.com.
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.