Final Thoughts

Final thoughts
Written by Ethan Bernard
December 10, 2023
Steel-tide Greetings
‘Twas two weeks before Christmas, and at our publication
We kept logging steel price increases from across our fair nation.
Up hot rolled, up cold rolled, and galvanized coil.
On Galvalume and plate — gushing skyward — like a geyser of oil.
Blink for a moment and you might miss a hike,
Oh what a change from the United Auto Workers strike.
–
Discuss prices at your holiday party but do practice moderation
As you sip on spiked eggnog and discuss decarbonization.
Will the EU and US agree, or will we see some global sheriff
Ride into Washington and pronounce a world carbon tariff?
Maybe start a little smaller, a more realizable goal,
Hang up our stockings and receive metallurgical coal.
–
Though it’s true some say Old Saint Nick is not real,
The same can’t be said for the much vaunted “green steel.”
Lower and lower the carbon goes, the greener it gets,
Are we reaching net zero soon, is anyone taking bets?
Carbon capture, hydrogen, the only limit’s the sky
As long as we don’t end up getting taken over by AI.
–
Here at SMU, we wish you all a joyful holiday season.
Join us soon in Tampa, in Florida, the weather sure is pleasin’.
There’ll be much to learn and discuss, old and new friends aplenty,
It will be 2024, a real blank slate, let’s finally forget 2020.
So two weeks before Christmas, and if you’ve also got that holiday feel
Don’t hesitate to drop us a tip: Who’s going to buy U.S. Steel?
–
Are you shivering through the season? Beat the winter blues and get a jump on all things steel at our 35th Annual Tampa Steel Conference. Rooms are filling up fast. Register here.

Ethan Bernard
Read more from Ethan BernardLatest in Final Thoughts

Final Thoughts
Some of you have told me that the current market feels about as crazy as early 2021 when demand snapped back after the initial outbreak of the Covid-19 pandemic. Others have said it might be more like late February/early March 2022, when Russia launched a full-scale invasion of Ukraine – and, in the process, caused […]

Final Thoughts
To say we’ve entered a “Brave New World” since Jan. 20 might be an exaggeration, but we’ve definitely entered a different one.

Final Thoughts
I think it’s fair to say that the last few weeks – and last week especially – have been among the most intense for any of us covering steel (or aluminum).

Final Thoughts
A look at how SMU survey respondents are reacting to President Trump's recent actions on tariffs.

Final Thoughts
A lot of the changes basically entail rolling back what I’ll call, for fun, Section 232 Lite. S232 Lite resulted from watering down what I’ll call OG S232 – the one first imposed in March 2018 - with exemptions and exclusions over the years. Now, OG Section 232, is back with its across-the-board 25% tariffs against everyone.