Final Thoughts
Final Thoughts
Written by John Packard
February 12, 2020
I am asking manufacturing companies if their company buys parts from China, and if so, what has the coronavirus done to shipments of their products. An ag-related company told me the workers are just returning to the plant in China after the extended holidays. I was told they were seeing at least a two-week delay in delivery expectations and they are not sure if that could be extended should workers not be allowed on the docks, or if the parts can’t get delivered for shipment.
If your company is getting parts from China, please let me know what you are seeing from your suppliers (confidentially of course). You can reach me at John@SteelMarketUpdate.com
I was asked yesterday about an article Lewis Leibowitz wrote on Tuesday regarding the “…Preliminary Ruling of Circumvention” on the UAE and others who had been accused of using Chinese substrate in their galvanized being shipped to the United States. The question was about companies who did not participate (and therefore are unable to certify their substrate as not being Chinese). Lewis had provided me some information on this in an earlier email: “I have reviewed the Commerce preliminary determination on the UAE. There is only one company in the UAE that is not eligible to certify that Chinese substrate was not used in production. That company is Asian Ispat FZ LLC. Any CORE produced by that company will be subject to AD/CVD duty deposits on China—about 160 percent. All other UAE producers and exporters may certify. This is pretty much the same as earlier cases.”
Our March 31-April 1, 2020, Steel 101: Introduction to Steel Making & Market Fundamentals Workshop is about one-third full. We have plenty of room for more attendees. You can learn more about our agenda, instructors, where we are going and NLMK Portage on our website. You can also find pricing and how to register by going to www.SteelMarketUpdate.com/events/steel101
If you need information about how to renew your membership, upgrade to Premium, add more people or become a new subscriber, please contact Paige Mayhair at 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
Read more from John PackardLatest in Final Thoughts
Final Thoughts
The difference: The spat with Turkey was a big deal for steel. This time, the 50% reciprocal tariff for Brazil – if it goes into effect as threatened on Aug.1 – hits everything from coffee and to pig iron. It seems almost custom-built to inflict as much pain as possible on Brazil.
Final Thoughts
Are we on the cusp of sorting out the tariff situation, or is this merely another round in the bout?
Final Thoughts
I’m not sure how many different ways I can write that it’s been a quiet market ahead of Independence Day. There are variations on that theme. I’ve heard everything from the ominous “eerily quiet” to "getting better" and even the occasional “blissfully unaware” (because I’m enjoying my vacation).
Final Thoughts
What's going to be the next big thing in steel?
Final Thoughts
Based on the amount of ‘out of office’ replies we’ve been receiving and the results of this week’s steel buyers’ survey, those pesky summer doldrums have arrived for the steel industry.