Final Thoughts

We have an article in tonight’s newsletter from Mario Briccetti that I want to make sure is not misconstrued as a criticism of the domestic steel mills. The Kobe Steel violation of trust by certifying test results for tests that were not conducted has created some unease here in the United States. It is Steel Market Update’s opinion that the U.S. steel mills are conducting all tests and are going the extra mile to ensure their customers are receiving steel as ordered. In my 40+ year career in the industry, I am unaware of a steel mill falsifying a mill certification.

The steel industry consists of much more than just steel mills. There are hundreds of service centers, trading companies, brokers, toll processors, wholesalers and fabricators that can touch steel and then send out certifications. There is a prime steel market and a secondary steel market. It is important to know who you are doing business with. And remember, sometimes there are reasons why the deal is too good to be true….