Final Thoughts
Final Thoughts
Written by John Packard
June 1, 2018
Steel Market Update will be conducting our early June flat rolled and plate steel market analysis beginning at 8:30 a.m. ET on Monday. If you receive an invitation to participate, please take a few moments to open the email and answer the first question at the bottom of the message. That will take you to the rest of the survey, which shouldn’t take more than a few minutes to complete. If you would like to be added to the invitation list, please contact us at info@SteelMarketUpdate.com.
I am traveling on Monday as SMU is conducting a Steel 101 workshop in Memphis, Tenn., in conjunction with Nucor Hickman and Nucor-Yamato on Tuesday and Wednesday of this week. I anticipate there will be many of you who may want to contact me; you can do so by sending messages to my email: John@SteelMarketUpdate.com or on Monday afternoon I should be available on my cell phone: 770-596-6268.
During my absence this week, you can reach Diana and Alison in our main office: 772-932-7538 or Brett Linton in his office: 770-596-6268. Tim Triplett can be reached in his office outside of Chicago at 630-513-5916. I will return to my office on Friday morning, June 8.
By the way, our next Steel Training workshop will be something a little different. We will be going to the brand-new AK Steel research facility and then touring their Middletown fully integrated steel mill. AK Steel is a leader in the development of advanced high-strength steels (AHSS) for automotive and other applications. The dates on this workshop are Sept. 18-19, 2018. We will be providing more details and starting the registration process in the next week or so. Stay tuned.
Registrations for the 2018 SMU Steel Summit Conference are approaching 600 executives. I remind everyone that last year we had 667 registrations and 650 attendees (17 got stuck in Houston due to the hurricane). There are still 84 days to go before the beginning of our conference on Monday afternoon, Aug. 27. The conference will conclude that Wednesday afternoon at 3 p.m. ET. The Atlanta airport is but a few minutes away. We do not restrict anyone from attending. If you have any questions about the conference, go to our website: www.SteelMarketUpdate.com/Events/Steel-Summit or contact our office at 772-932-7538. There is a list of attending companies on our website. If you have already registered, feel free to tell your suppliers and industry-related friends about our conference. It will be the premier steel event of the year in North America.
If you have not yet booked your hotels, I suggest you do so very soon. If you are having any issues finding a hotel, Brett Linton may be able to help, at least get the right phone numbers or website link. Our room blocks are very close to being sold out, so time is of the essence. Brett can be reached at Brett@SteelMarketUpdate.com.
This is going to be an exciting week for SMU, those attending our Steel 101 workshop and for the greater steel industry as everyone tries to make sense of the latest moves by the Trump administration.
This reminds me, SMU tries to take as neutral a path as possible when it comes to political topics and, unfortunately, the steel industry has become a political football. For us, it is not important whether the president is making good decisions about trade with other countries. Our goal is to try to provide as much information as possible. If you don’t agree with our coverage or have opinions that you do not feel are being represented, please send us an email at info@SteelMarketUpdate.com and we will do our best to address your issues.
As always, your business is truly appreciated by all of us here at Steel Market Update.
John Packard, President & CEO, Steel Market Update
John Packard
Read more from John PackardLatest in Final Thoughts
Final Thoughts
Despite some scary headlines lately (especially about Trump potentially firing Fed Chair Jerome Powell) this is not October 2008 (financial crisis) or March 2020 (onset of the pandemic). But it sure seems like we’ve taken a relatively strong economy and poured a thick sauce of uncertainty over it.
Final Thoughts
I put some of our survey data through ChatGpt, with interesting results.
Final Thoughts
Nearly 50% of respondents to our latest survey thought hot-rolled coil prices have already peaked. And where will those prices be two months from now? Responses were decidedly split on that question.
Final Thoughts
A modest week-to-week change in HR price understates a huge swing in expectations.
Final Thoughts
What happens when ChatGPT meets SMU's Market Chatter? No, this is not an idea for the latest Hollywood blockbuster. Then again, with what Hollywood is putting out these days, Chatter Meets Chat might just turn out to be a hit. Rather, it’s that old idea of putting theory into practice. Recently, I conducted an interview with Doug Schrock, managing principal of AI at public accounting and consulting firm Crowe. He gave some tips on how to implement AI into your business.