Final Thoughts
Final Thoughts
Written by John Packard
January 15, 2020
The other day I mentioned I am open to suggestions regarding subjects to be discussed or possible speakers at this year’s SMU Steel Summit Conference. One of the suggestions I got was that we consider having a steel buyer’s panel. I like the idea and it has already been incorporated into the agenda. I have already gotten a few steel buyers to be on this panel. It will be diverse with manufacturing and steel distribution representatives. I am also looking at companies who cover different industries. This will allow us to get different perspectives than those being provided by our economists or analysts.
I continue to work on the program, and I am still open for suggestions. If you would like to give me your thoughts regarding the 2020 SMU Steel Summit Conference (or anything else), you can reach me at John@SteelMarketUpdate.com
There do appear to be some “holes” opening up at a couple of mills. I received a note from a steel buyer today pointing out that one of his suppliers has had HRC lead times as being the week of Feb. 10 for the past few weeks. This is something we are trying to watch closely. If you have mill lead time information, please forward to my attention.
We got a note from Lewis Leibowitz today with the modification of a tariffs list, which were products (Chinese) hit with tariffs as of Sept. 1, 2019. The modification is part of the phase one deal with the Chinese. He reminded us that the exclusion deadline for List 4A products remains Jan. 31.
I mentioned the other day that Michael Smerconish of CNN will be our featured keynote speaker on Wednesday. He will be prior to lunch since we have added the “How to Attract and Retain Young People” segments in the afternoon. I decided to bring Smerconish back because he works hard on being fair and as neutral as possible, yet he does have opinions on what will happen and why during this election cycle. He was excellent a few years ago when we first brought him to our conference.
We do have a few sponsorships and exhibition spaces left for this year’s conference. If you would like more information, please contact Jill Waldman at Jill@SteelMarketUpdate.com
Regarding subscriptions for our newsletters. Prices will be rising come Feb. 1. If you want to renew now, you can do so at the current price levels by contacting Paige Mayhair – 724-720-1012 or by email: 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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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.