Final Thoughts
July 18, 2014
Final Thoughts
Written by John Packard
In the last issue of Steel Market Update I warned that there are lots of rumors swamping the steel market as negotiations for Severstal NA heat up (or are perhaps already over) and Gallatin entertains bids on their mill (half owned by Gerdau and half ArcelorMittal). The other mill issue is the Chapter 15 (Canadian equivalent of Chapter 11) filing by Essar Steel Algoma. Consolidation is upon us and will be one of the topics which we will need to discuss during our Steel Summit Conference in September.
Speaking of our Steel Summit Conference and speakers – I don’t know how many of you had a chance to see metals and mining analyst, Timna Tanners of Bank of America Merrill Lynch on Fox Business News last week. If you missed it here is a link to her comments and optimism regarding the steel industry in the U.S. At the left is a photo taken of her off the TV screen.
