Final Thoughts

My understanding from industry sources is that JSW Mingo Junction has returned their EAF and hot strip mill back to production this week. The mill was idled in April with JSW doing some work on the equipment. This will put some cheaper hot rolled coil into the market (one mill commercial officer telling me they would have to be $440-$460 in order to drum up some business), and perhaps put pressure on HRC. In the beginning, we anticipate they will be producing slabs for their Baytown plant. No response from the mill to our requests for comment.

Tomorrow’s SMU Community Chat webinar will feature buy-side expert Donald Bly of Applied Value. The webinar is free and will begin at 11 AM ET. Bly will use his unique perspective dealing with OEMs and other steel buying companies to discuss production, consumption and pricing of steel. He will speak about what manufacturing companies are doing to manage steel supply issues and how they are revaluating their supply chain looking at parts and products over a longer term (i.e. reshoring). I think you will find the information interesting and valuable. You can register for this webinar by clicking here. If you have any questions to ask Mr. Bly, please send them to: Chat@SteelMarketUpdate.com or you can ask them through the webinar software during the presentation.