Final Thoughts
October 24, 2014
Final Thoughts
Written by John Packard
Steel Market Update is beginning to see weakness in demand based on the results of our last two flat rolled steel market surveys. The manufacturing companies are the first to report the weakness and service centers are beginning to follow. Our Premium (and free trial) level members can review the Power Point presentation that we placed on the website on Friday. The latest Power Point is under the Analysis tab (must be logged in to view). We will have an article on this subject on Tuesday as we follow up the survey with one-on-one discussions with buyers.
U.S. Steel is the next mill to report earnings. They release numbers after the market closes on October 28th and their earnings conference call will be held the following day. I expect they will address the situation at USS Lake Erie Works and Hamilton Works in Canada (former Stelco plants). They did reach a new contract agreement with the Hamilton union and the union has ratified the contract.
