Final Thoughts
Final Thoughts
Written by John Packard
May 6, 2019
I got a call earlier today asking about a steel publication changing the direction of some of their flat rolled pricing. I responded that I don’t read the other trade publications, and I don’t follow their indices. I do not want to be influenced as I go through the always difficult, and sometimes tedious, process of determining where I am seeing spot pricing on flat rolled and plate steels. We reported our price ranges at the beginning of tonight’s issue and we will continue to watch pricing on an almost continual basis, looking for signs of a change in direction or in the speed at which we are seeing prices move.
I will be in Chicago beginning tomorrow (Wednesday) and will return to the office on Friday afternoon. I will be attending the Metals Industry Boy Scout Dinner on Thursday evening at the Hyatt. If you would like to speak to me while I am in Chicago, shoot me an email: John@SteelMarketUpdate.com I believe I have some time available on Thursday morning and mid-afternoon prior to the dinner event.
I understand there are still tickets available for the Metals Industry Boy Scout Dinner on Thursday. For more information click here. Tell them Lori Hahn sent you….
Next week I will be in Davenport, Iowa, for our next Steel 101 workshop (still have a couple of seats available) and later in the week I will be in Minnesota.
The week after that I will be in Atlanta for three days as I am speaking at a manufacturing company function along with the CRU Chief North American Economist. If your organization is interested in having me or our group speak or put on an educational program, please contact me at John@SteelMarketUpdate.com
We published our “Flash” report to service center inventory data providers today. This information is only available to our data providers. If you are a service center and you would like to participate in our inventory analysis (on a strictly confidential basis), please contact me. We are covering flat rolled and plate products in the United States.
I want to welcome our newest member companies to Steel Market Update. Please be aware that I encourage questions, comments and suggestions. This is one way we improve our product, and many times we get leads on what subjects we should be covering from our readers. Welcome aboard.
If you would like to become a member or would like to renew or upgrade your existing membership, please contact Paige Mayhair at 724-720-1012 or Paige@SteelMarketUpdate.com
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
The whole SMU team is packing up our laptops and our SMU polos/cardigans, loading up the PowerPoint slides, and preparing to make the trek down to Florida for the Tampa Steel Conference. There will be plenty to talk about!
Final Thoughts
From one group of folks, I’ve heard that Trump might not wait until Feb. 1 – the date he threatened on to place tariffs on China, Canada, and Mexico. They say he could act as soon as Friday. And then there are those who don’t think anything will happen before April 1. That’s the deadline for Commerce, Treasury, and USTR to submit key reports on “America First Trade Policy” to President Trump.
Final Thoughts
Trump made a clarification in a speech on Monday. Previously, he had declared the word “tariff” the most beautiful word in the dictionary. No longer.
Final Thoughts
President Donald Trump on Sunday hammered Colombia with 25% tariffs and threatened to increase them to 50%. Trump in a post on Truth Social said he took the action not because of a trade dispute but because the South American nation had refused to accept planes carrying deported immigrants. The president also cited "national security" concerns, just as he did to justify 25% Section 232 tariffs on steel in his first term. Even the 50% threat echoes his first term. Turkish steel, like that of most nations, was assessed a 25% tariff in March 2018. Trump doubled Turkey's tariff to 50% via a tweet in August of that year over a matter unrelated to steel.
Final Thoughts
We surveyed many of you this week and asked what you wanted to see from the new Trump administration. Responses were varied but fell largely into three groups: tariffs and trade policy, the Nippon-U.S. Steel deal, and those who are concerned about too much government sway in steel. Some also expressed hope that President Trump would continue the infrastructure spending that began under former President Biden.