f7ben Posted June 19, 2019 Share Posted June 19, 2019 (edited) Will be announcing the idling of several furnaces. Just got word. Steel industry is unraveling and that is bad news for the US economy .....demand is falling and prices along with it. Edited June 19, 2019 by f7ben Quote Link to comment Share on other sites More sharing options...
revkevsdi Posted June 19, 2019 Share Posted June 19, 2019 2 minutes ago, f7ben said: Will be announcing the idling of several furnaces. Just got word. Steel industry is unraveling and that is bad news for the US economy .....demand is falling and prices along with it. Winning. 1 Quote Link to comment Share on other sites More sharing options...
Zambroski Posted June 19, 2019 Share Posted June 19, 2019 4 minutes ago, f7ben said: Will be announcing the idling of several furnaces. Just got word. Steel industry is unraveling and that is bad news for the US economy .....demand is falling and prices along with it. Slow the roll. Overproduction. The god damn ports here are flooded with pellets. Record shipping tonnage so far this year. Quote Link to comment Share on other sites More sharing options...
f7ben Posted June 19, 2019 Author Share Posted June 19, 2019 1 minute ago, Zambroski said: Slow the roll. Overproduction. The god damn ports here are flooded with pellets. Record shipping tonnage so far this year. It's not just capacity dude.....prices have cratered because demand is falling. The auto sector is tanking , energy is tepid at best. It's not good right now Quote Link to comment Share on other sites More sharing options...
spin_dry Posted June 19, 2019 Share Posted June 19, 2019 Just now, f7ben said: It's not just capacity dude.....prices have cratered because demand is falling. The auto sector is tanking , energy is tepid at best. It's not good right now Yes. Demand is dropping. https://www.google.com/amp/s/www.wsj.com/amp/articles/u-s-steel-to-idle-two-furnaces-as-demand-falls-11560900740 Quote Link to comment Share on other sites More sharing options...
revkevsdi Posted June 19, 2019 Share Posted June 19, 2019 1 minute ago, f7ben said: It's not just capacity dude.....prices have cratered because demand is falling. The auto sector is tanking , energy is tepid at best. It's not good right now Yeah but the pellets. Quote Link to comment Share on other sites More sharing options...
f7ben Posted June 19, 2019 Author Share Posted June 19, 2019 1 minute ago, spin_dry said: Yes. Demand is dropping. https://www.google.com/amp/s/www.wsj.com/amp/articles/u-s-steel-to-idle-two-furnaces-as-demand-falls-11560900740 Also another line in Europe Quote Link to comment Share on other sites More sharing options...
Zambroski Posted June 19, 2019 Share Posted June 19, 2019 1 minute ago, f7ben said: It's not just capacity dude.....prices have cratered because demand is falling. The auto sector is tanking , energy is tepid at best. It's not good right now But production kept up well past the slowing signs of demand. You should see the shit waiting on pick up here. I’m not even sure it is all spoken for yet. Quote Link to comment Share on other sites More sharing options...
f7ben Posted June 19, 2019 Author Share Posted June 19, 2019 1 minute ago, revkevsdi said: Yeah but the pellets. The sky isnt falling yet.....but this isnt a good sign. I make those pellets now.....I'd prefer not to get laid off 6 months after getting home. Quote Link to comment Share on other sites More sharing options...
Zambroski Posted June 19, 2019 Share Posted June 19, 2019 3 minutes ago, revkevsdi said: Yeah but the pellets. Do you feel it important to show you ignorance in every thread? I guess we all need something in which we can excel. Whew! You are really good at it! Quote Link to comment Share on other sites More sharing options...
spin_dry Posted June 19, 2019 Share Posted June 19, 2019 1 minute ago, f7ben said: The sky isnt falling yet.....but this isnt a good sign. I make those pellets now.....I'd prefer not to get laid off 6 months after getting home. And you just sobered up!! Quote Link to comment Share on other sites More sharing options...
f7ben Posted June 19, 2019 Author Share Posted June 19, 2019 Just now, Zambroski said: But production kept up well past the slowing signs of demand. You should see the shit waiting on pick up here. I’m not even sure it is all spoken for yet. Oh xammykins......those pellets dont mean two sweet fucks to anyone but us MNers. The steel industry is fuckin huge. A majority of steel is now produced by recyclers and no ore used at all. What I'm trying to say is nothing you see out your window means a thing when it comes to the steel industry Quote Link to comment Share on other sites More sharing options...
Zambroski Posted June 19, 2019 Share Posted June 19, 2019 Just now, f7ben said: Oh xammykins......those pellets dont mean two sweet fucks to anyone but us MNers. The steel industry is fuckin huge. A majority of steel is now produced by recyclers and no ore used at all. What I'm trying to say is nothing you see out your window means a thing when it comes to the steel industry Well, I certainly don’t know too much about it but, basic supply and demand and the fact I’ve never seen this kind of build up in the ports tells me production is higher than it probably should be. Quote Link to comment Share on other sites More sharing options...
f7ben Posted June 19, 2019 Author Share Posted June 19, 2019 1 minute ago, Zambroski said: Well, I certainly don’t know too much about it but, basic supply and demand and the fact I’ve never seen this kind of build up in the ports tells me production is higher than it probably should be. I appreciate that you arent well versed on it. To be honest I work with piles of guys that know almost nothing about the steel industry. Let's just say that if zero pellets had been shipped out of the lake superior ports this year. It would have had virtually zero impact on the steel industry. In fact it's safe to say a firm zero impact lol. Quote Link to comment Share on other sites More sharing options...
Zambroski Posted June 19, 2019 Share Posted June 19, 2019 1 minute ago, f7ben said: I appreciate that you arent well versed on it. To be honest I work with piles of guys that know almost nothing about the steel industry. Let's just say that if zero pellets had been shipped out of the lake superior ports this year. It would have had virtually zero impact on the steel industry. In fact it's safe to say a firm zero impact lol. Well fuck. That doesn’t sound good at all. Quote Link to comment Share on other sites More sharing options...
f7ben Posted June 19, 2019 Author Share Posted June 19, 2019 3 minutes ago, Zambroski said: Well fuck. That doesn’t sound good at all. It's just a huge industry and the ore we mine in MN is a very tiny little part of the raw material. Its huge for us but not a big deal when the whole industry is considered Quote Link to comment Share on other sites More sharing options...
frenchy Posted June 19, 2019 Share Posted June 19, 2019 6 hours ago, f7ben said: It's not just capacity dude.....prices have cratered because demand is falling. The auto sector is tanking , energy is tepid at best. It's not good right now So the economy can’t sustain the artificial adrenaline shot of corporate and personal tax cuts topped with massive deficit spending? Funny where did I hear someone predict that before. Either way hope it works out for you. Quote Link to comment Share on other sites More sharing options...
Angry ginger Posted June 19, 2019 Share Posted June 19, 2019 1 hour ago, frenchy said: So the economy can’t sustain the artificial adrenaline shot of corporate and personal tax cuts topped with massive deficit spending? Funny where did I hear someone predict that before. Either way hope it works out for you. Hmmm. But the trumpers say everything is awesome and we just didn't understand how it's going to work Quote Link to comment Share on other sites More sharing options...
spin_dry Posted June 19, 2019 Share Posted June 19, 2019 2 hours ago, frenchy said: So the economy can’t sustain the artificial adrenaline shot of corporate and personal tax cuts topped with massive deficit spending? Funny where did I hear someone predict that before. Either way hope it works out for you. Every drug eventually wears off. Quote Link to comment Share on other sites More sharing options...
revkevsdi Posted June 19, 2019 Share Posted June 19, 2019 9 hours ago, Zambroski said: Slow the roll. Overproduction. The god damn ports here are flooded with pellets. Record shipping tonnage so far this year. 9 hours ago, f7ben said: Oh xammykins......those pellets dont mean two sweet fucks to anyone but us MNers. The steel industry is fuckin huge. A majority of steel is now produced by recyclers and no ore used at all. What I'm trying to say is nothing you see out your window means a thing when it comes to the steel industry 9 hours ago, Zambroski said: Well, I certainly don’t know too much about it but, basic supply and demand and the fact I’ve never seen this kind of build up in the ports tells me production is higher than it probably should be. 9 hours ago, Zambroski said: Well fuck. That doesn’t sound good at all. 9 hours ago, Zambroski said: Do you feel it important to show you ignorance in every thread? I guess we all need something in which we can excel. Whew! You are really good at it! more of Zambo the clown’s total lack of self awareness. Quote Link to comment Share on other sites More sharing options...
Zambroski Posted June 19, 2019 Share Posted June 19, 2019 1 minute ago, revkevsdi said: more of Zambo the clown’s total lack of self awareness. Give it up. Quote Link to comment Share on other sites More sharing options...
revkevsdi Posted June 19, 2019 Share Posted June 19, 2019 2 minutes ago, Zambroski said: Give it up. Your obsession is still going strong. Quote Link to comment Share on other sites More sharing options...
Zambroski Posted June 19, 2019 Share Posted June 19, 2019 1 minute ago, revkevsdi said: Your obsession is still going strong. And there’s nothing you can do about it. Dork. Quote Link to comment Share on other sites More sharing options...
ford_428cj Posted June 19, 2019 Share Posted June 19, 2019 Aren't they re-opening a mill in Ohio? Quote Link to comment Share on other sites More sharing options...
smokin george Posted June 19, 2019 Share Posted June 19, 2019 10 hours ago, Zambroski said: But production kept up well past the slowing signs of demand. You should see the shit waiting on pick up here. I’m not even sure it is all spoken for yet. I picked up a load at one of our local mills yesterday and the shipper was saying they're holding at least 5 trailer loads of cut to size on their floor and a ton more on the floor of full length tubing. We've slowed down quite a bit in the past few weeks and once our customers start shutting down for their vacations itll get slower Quote Link to comment Share on other sites More sharing options...
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