Final Thoughts

Here is what I know/understand regarding the situation at US Steel as of early Sunday evening, April 13th. Our sources are advising us USS is moving iron ore from Great Lakes to Gary. We are also following the vessels which are now being reported as in port in Minnesota loading ore. We are aware that there is talk of US Steel considering declaring force majeure on their contracts out of Great Lakes. We do not have any evidence of them doing this although it would make common sense if the mill is not able to have it’s steelmaking back online within a reasonable time frame. I asked US Steel to comment on the status of Gary Works, Great Lakes and the force majeure rumor but they did not respond to my request by the time we published on Sunday evening. We will have further updates on the status of steelmaking at Gary and Great Lakes in Tuesday evening’s edition of SMU.

We anticipate closing registration for our next Steel 101: Introduction to Steelmaking & Market Fundamentals workshop by the end of this week. We have one spot left before we will be considered completely sold out. Those already registered for the workshop represent manufacturing companies, service centers, trading companies, steel mills, toll processors, logistics and the head of an industry organization. This will be a great class and Severstal Dearborn is promising to conduct another wonderful mill experience for our group (a special thank you to Severstal). If you would like to take the last spot you can register online or you are welcome to contact our office at: 800-432-3475.