Final Thoughts
Final Thoughts
Written by John Packard
April 10, 2019
Registrations continue to pour in for the 2019 SMU Steel Summit Conference. Here are a few of the latest registrations from this week (those with an * mean more than one person registered from that company): Ryerson*, Whirlpool, Rheem*, JFE Shoji Trade America, Wallner Expac*, Ram Steel Framing, Oshkosh Corporation*, JSW Steel USA* and Midrex Technologies. As mentioned previously, I believe we are now over 300 executives registered for this year’s premier networking and information event for the steel industry. To register for the 2019 SMU Steel Summit Conference, go to www.SteelMarketUpdate.com/events/steel-summit
Another reminder to keep your innovative younger employees in mind for the NextGen Awards, which will be part of this year’s conference. We want to recognize and celebrate the excellent emerging leaders in manufacturing, steel distribution, steel mills, toll processors and related steel user companies. Our intention is to offer essentially half-price registration to any young executive nominated for the SMU NextGen Awards. Over the next few weeks we will be rolling out more details about the awards, the nomination process, selection process and how to take advantage of our half-price offer for nominees. Stay tuned.
Speaking of young talent – what better way to reward your new people as well as those who have been with your for a number of years than to send them to one of our Steel 101: Introduction to Steel Making & Market Fundamentals workshops. We have one coming up on May 14 & 15 in Davenport, Iowa. As part of the workshop, we will be touring the SSAB minimill, which is located about 30 minutes away from the hotel where our classes will be held. The workshop provides an excellent learning and networking experience for people in purchasing, sales, logistics, claims, inventory management and planning, marketing, finance or other areas of the company where a working knowledge of the steelmaking process is helpful. You can learn more about our workshop at www.SteelMarketUpdate.com/events/steel101
As always, your business is truly appreciated by all of us here at Steel Market Update.
John Packard, President & CEO
John Packard
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Final thoughts
We got a little flack for adjusting our sheet momentum indicators to neutral last week. To be clear, we didn’t adjust them to lower. Part of the reason we moved them to neutral was because there are some unusual cross-currents in the current market. On the news side, you could make a case that there should nowhere to go but up.
Final thoughts
I think all of us know that sometimes courtships go wrong. A misplaced word or deed and soon things can go sideways, and not in the prices sense. Such could be the case with Japanese steelmaker Nippon Steel’s play for U.S. Steel.
Final thoughts
We’re starting to see some impacts of the big trade case filed last week against imports of coated flat-rolled steel from 10 nations. Namely, we’ve heard that a range of traders have stopped offering material from Vietnam. An alleged dumping margin of nearly 160% will do that. Especially amid chatter of critical circumstances.
Final thoughts
The phrase “political football” has been tossed around a lot lately. (Pun probably intended.) For the humble journalists at SMU who thought the week following Steel Summit would prove a quiet one… the news cycle had other ideas
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.