Final Thoughts
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Final Thoughts
Written by John Packard
March 21, 2018
WOW! What a day. I don’t know if anyone has the ability to accurately calculate the value of a piece of steel based on what has been happening since President Trump all of a sudden announced Section 232 tariffs while answering a reporter’s question. With the announcement of more countries being excluded from the tariffs, the market (stock and steel both) is in an uproar.
Even with the newly excluded countries there are enough tons missing to create a shortage of certain products. Some questions that still exist:
- Will NLMK USA be able to get slabs to keep running?
- Will AK Steel Ashland restart (so far, the answer is no)?
- Are there available tons from the excluded countries to take up some/all of the shortfall?
Don’t forget there are still AD/CVD duties in place against some of these countries.
USS/POSCO or UPI sent out a letter late today to their customers advising that they have limited availability to take new orders. The letter sounds like a way of saying they are going to be on allocation for some time.
We have had a busy couple of days taking registrations for our 8th SMU Steel Summit Conference, which will be the largest flat rolled steel conference in North America. Our conference is the premier conference for buyers and sellers of steel. We should have our agenda online sometime tomorrow or at the latest by Monday. Remember, when making your flight reservations, you want to arrive into ATL by noon on Monday, Aug. 27, and you want to try to arrange for a flight back around 4:30 p.m. or later so you don’t miss the media personality who will be at the end of our program on Wednesday. Registration can be done through our website: www.SteelMarketUpdate.com/events/steel-summit or by contacting our office at 772-932-7538.
We have also opened up registration for our June Steel 101 workshop, which will be held in Memphis, Tenn., and will include a tour of the Nucor Hickman and Nucor-Yamato steel mills. This will be a special workshop for those who attend. You can find information and registration links on our website: www.SteelMarketUpdate.com/events/steel101 or you can contact our office at 772-932-7538.
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.