Final Thoughts

I’m concerned we’ve all gotten a little too complacent with the idea that the price correction underway will continue to be gradual and that the new floor for hot rolled coil, whatever it is, will be four digits instead of the sub-$400-500 per ton floors that have characterized past downcycles.

I’m not saying we’re headed below $400 again. Yes, this time is different – the industry is more consolidated, prime scrap will be harder to come by and more expensive, and an increased focus on fair trade, worker rights and carbon issues means that cheap imports won’t be able to flood in as they did in the past.

Michael Cowden

Michael Cowden is managing editor for Steel Market Update. Cowden has covered the steel industry since 2007. He has since 2014 specialized in flat-rolled steel but has previously reported on steel long products, steel pipe and tube as well as aluminum. Before joining SMU, Cowden held reporting jobs at Fastmarkets AMM in Chicago - where he was involved in launching AMM's daily hot-rolled coil index, the Associated Press in Pittsburgh, and the Cambodia Daily in Phnom Penh. He has also worked as a copy editor and in marketing at the University of Chicago Press. Cowden has a BA in English from the University of Chicago and an MSJ journalism from Northwestern University’s Medill School of Journalism. Contact him at michael@steelmarketupdate.com or 724-759-7872.

Michael Cowden

Latest in Final Thoughts

EXECUTIVE article – Testing taxonomy functions as an SMU author

Final thoughts

Test Training – hot rolled

Final Thoughts

Final Thoughts