Final Thoughts

Final Thoughts

Written by John Packard


I have been very pleased with the response we have received for the SMU Steel Summit Conference agenda, which we rolled out earlier this week. I have received multiple comments about the quality of the program and speakers. Brian Robbins of MidWest Materials told me, “It’s good!!!! If not exhausting… I am thinking of bringing others this year (my buyer came in my place last year and loved it).” I am grateful for the initial wave of optimism about our program.

John Packard Summit 18I have also received comments that the program has been expanded this year and the conference begins in earnest on Monday. Yes, that is correct. There is much to discuss, there is a lot of networking that needs to get done, there is going to be a large audience, so we are building a program that allows for travel in the morning. If you want to do the Price Risk Management Workshop hosted by the CME Group, which begins at 10:30 a.m. on Monday morning, you may want to consider arriving the night before. The conference program will begin at 1 p.m. ET. The first big networking event will be Monday at 4 p.m. Please note: The Price Risk Management Workshop will be held in the Marriott Gateway Hotel, not at the convention center. Everything else will be in the convention center beginning at 1 p.m. through the end of the program around 3 p.m. ET on Wednesday.

Registrations are clicking now that the program is out. In the last 48 hours, we have registered executives from: ArcelorMittal Dofasco, Braner U.S.A., Hercules Industries, Kirchhoff Automotive, BTD Manufacturing, Tempel Steel Company, North Star BlueScope Steel, Bailey Metal Products, Mainline Metals, Webco Industries and MISA. In almost every case the company has registered more than one person to attend the conference.

I am also pleased to see a number of our members asking for details about the new packages we are offering for those companies who would like for more than just a couple of employees to receive the newsletter. You can find out more by speaking with Paige Mayhair at 724-720-1012 or by email at Paige@SteelMarketUpdate.com. Paige can also handle your renewal or set you up as a new subscriber.

As always, your business is truly appreciated by all of us here at Steel Market Update.

John Packard, President & CEO

Latest in Final Thoughts

Final thoughts

Cleveland-Cliffs is seeking $750 per short ton (st) for hot-rolled coil. That’s $20/st above where the steelmaker had been. It’s also $30/st above Nucor, which is at $720/st this week. We've seen prices increase incrementally this week. SMU's HR price, for example, stands at $690/st on average, up $5/st from last week. The questions now are whether a number well above $700/st will stick, whether other mills will follow Cliffs, and whether there is enough demand to support higher prices.