Cup o Joe - A Metals Podcast

Tariffs are back in the headlines, but will they stick? In this episode of Cup o Joe, Nick and Mike are joined by Ryerson’s Senior VP of Supply Chain, Trent McFarland, to break down what he’s hearing from mills and how manufacturers can remap their supply chains in response.

But this one takes a turn—ditch the slides, grab a coffee, and join a live Q&A session as the team fields real-time questions from the audience. From lead times to logistics, no topic is off-limits. Tune in for an unscripted, no-holds-barred conversation on navigating uncertainty in metals.

In this special edition of Cup o Joe, hosts Mike Carrozzo and Nick Webb bring together a powerhouse panel to break down the latest shakeup in the metals market—the surprise Super Bowl Sunday announcement of 25% tariffs on steel and aluminum imports. What does this mean for pricing, supply chains, and the broader manufacturing landscape?

Joining the discussion are Ryerson’s supply chain experts Jeff Nodes, Mark Gross, and Jeff Penz, who share insights into the immediate and potential long-term impacts of these tariffs. The conversation dives into:
 🔹 The ripple effect on aluminum pricing, including Midwest premiums and hardener elements like magnesium
 🔹 The shifting import landscape and how global suppliers are reacting
 🔹 The response from U.S. mills—price hikes, extended lead times, and the push for more domestic sourcing
 🔹 The uncertainty around tariff codes and how buyers should prepare for potential supply chain disruptions
 🔹 What this all means for stainless steel, scrap markets, and inflationary pressures

With so many moving pieces, one thing is clear—metals buyers should stay close to their suppliers and keep a watchful eye on developments. Tune in for expert insights and practical takeaways to help navigate this evolving landscape.

🎧 Listen now to stay ahead of the curve! #CupoJoe #Steel #Aluminum #Tariffs #SupplyChain

In part two of this special Cup o’ Joe episode, we’re shifting gears to break down what’s happening in the steel, aluminum, and stainless markets—and where they could be headed next.  

Hosts Mike Carrozzo and Nick Webb, Director of Risk Management & Commodities Hedging, sit down with Ryerson’s metals experts to discuss:  
🔹 Steel prices—Are we at the start of a rally? Where do tariffs fit into the picture?  
🔹 China’s exports—Why global markets are watching closely as steel shipments hit historic levels  
🔹 Aluminum premiums—What’s driving Midwest premium volatility, and could tariffs on Canadian imports shake things up?  
🔹 Nickel & stainless trends—With prices at multi-year lows, is a supply correction coming?  
🔹 Market predictions for 2025—Expect volatility, shifts in trade policy, and manufacturing tailwinds  

Will steel mills push price increases further? How will scrap price trends impact supply chains? And is stainless poised for a rebound?  

With so much going on, we had to make this month's episode a two-part Cup o’ Joe! 

In this first installment, Ryerson CEO Eddie Lehner sets the stage with a look back at 2024—a tough year for manufacturing with continued demand declines and economic uncertainty. But is a turnaround on the horizon?  

Nick and Mike break down the latest macroeconomic trends, including:  
- The state of manufacturing—has it bottomed out?  
- Signs of a 2025 rebound and the potential for an upswing  
- Trade policy updates: The latest on tariffs, border security, and economic reversion  
- Global market movements: China, Europe, and North America’s shifting trade relationships  
 -Inflation, Fed policy, and what it means for the metals supply chain  

With insights from Ryerson’s supply chain directors for stainless, aluminum, and carbon steel, this deep dive unpacks the key trends shaping the year ahead.  

Next up in Part Two: A deep dive into metals markets—what’s next for steel, aluminum, and stainless?  

It’s a Cup of Champions this month! Fresh off some big wins—both on the football field and in the metals markets—Nick and Mike break down the latest industry trends and what’s shaping up to be a pivotal year for manufacturing and commodities.

Topics include:
🏆 National Championship Recap – A little friendly banter about Ohio State’s big win and North Central College’s Division III title.
📈 Manufacturing Optimism – Could the ISM data signal a rebound in orders for 2025?
🔩 Steel & Aluminum Outlook – How potential trade policies and tariffs could impact supply and pricing.
⚡ Nickel’s Rough Ride – Is 2025 the year this battered metal finds its footing?

Plus, we preview our upcoming Cup o Joe Live on February 6, featuring Ryerson CEO Eddie Lehner and expert product managers for aluminum, carbon steel, and stainless steel.

Don't miss the 90-minute episode on February 6! https://mktg.ryerson.com/cup-of-joe

Check out more: https://www.ryerson.com/metal-resources/metal-market-intelligence/podcast

In this episode of Cup o Joe, Nick and Mike take a trip down memory lane, revisiting six bold metal market predictions Nick made at the start of the year. From steel pricing trends to shifts in global demand, they dissect what came true, what missed the mark, and what surprised everyone.

But it doesn’t stop there—Nick offers a glimpse into the road ahead, diving into the buzz around potential tariffs and the impact of looming interest rate cuts on the metals industry. Are these the key to stabilizing the market, or will they stir up more uncertainty? Grab your cup o joe and tune in for insights, analysis, and a healthy dose of market wisdom!

Check out the Cup o Joe homepage!
https://www.ryerson.com/metal-resources/metal-market-intelligence/podcast

Certain statements made in this presentation and other written or oral statements made by or on behalf of the Company constitute "forward-looking statements" within the meaning of the federal securities laws, including statements regarding our future performance, as well as management's expectations, beliefs, intentions, plans, estimates, objectives, or projections relating to the future. Such statements can be identified by the use of forward-looking terminology such as “objectives,” “goals,” “preliminary,” “range,” "believes," "expects," "may," "estimates," "will," "should," "plans," or "anticipates" or the negative thereof or other variations thereon or comparable terminology, or by discussions of strategy. The Company cautions that any such forward-looking statements are not guarantees of future performance and may involve significant risks and uncertainties, and that actual results may vary materially from those in the forward-looking statements as a result of various factors. Among the factors that significantly impact our business are: the cyclicality of our business; the highly competitive, volatile, and fragmented metals industry in which we operate; fluctuating metal prices; our substantial indebtedness and the covenants in instruments governing such indebtedness; the integration of acquired operations; regulatory and other operational risks associated with our operations located inside and outside of the United States; impacts and implications of adverse health events, including the COVID-19 pandemic; work stoppages; obligations under certain employee retirement benefit plans; the ownership of a majority of our equity securities by a single investor group; currency fluctuations; and consolidation in the metals industry. Forward-looking statements should, therefore, be considered in light of various factors, including those set forth above and those set forth under "Risk Factors" in our annual report on Form 10-K for the year ended December 31, 2022, and in our other filings with the Securities and Exchange Commission. Moreover, we caution against placing undue reliance on these statements, which speak only as of the date they were made. The Company does not undertake any obligation to publicly update or revise any forward-looking statements to reflect future events or circumstances, new information or otherwise.

In this episode, we dive into the recent U.S. election’s surprising impact—or lack thereof—on commodities, metals, and energy markets. 

Nick and Mike dissect the unique market movements, offering some takes on what a return to certain policy trends could mean for metal buyers, manufacturers, energy prices, and investment strategies moving forward. 

This episode doesn’t offer concrete predictions, but instead opens a conversation on market reactions to policy, volatility, and the evolving regulatory landscape—encouraging listeners to weigh in with their own perspectives.

In this episode of Cup o Joe, we dive into the potential disruptions to global supply chains from Hurricane Helene and the recently resolved port strikes. This episode was recorded hours before a temporary resolution was agreed to between the ILSA and US Maritime Alliance. 

Then, we discuss how Chinese stimulus efforts are giving a boost to Chinese manufacturing—and what that could mean for domestic steel production. Plus, we break down the latest trends in aluminum and nickel prices, and much more. Tune in to stay informed on all things metals!

In this episode of Cup o' Joe, the discussion centers around a "winter" warning for the global steel industry, driven by recent remarks from the CEO of Baowu Steel, China's largest steel mill. The CEO's harsh outlook reflects growing concerns as China's steel market softens, reminiscent of challenging periods in 2008 and 2015. 

Hosts Mike Carrozzo and Nick Webb dive into the impact of weak real estate demand and the Chinese steel sector's overproduction, highlighting how China's economy is sending mixed signals. While manufacturing in areas like electric vehicles and green energy continues to perform well, the real estate sector is dragging down steel demand, resulting in increased steel exports and shrinking profits. 

They also explore how tariffs in North America act as a buffer, preventing a full spillover of the Chinese steel crisis into Western markets, and what this could mean for the future. Tune in as the conversation unpacks the global steel landscape, with expert insights on trade, economic policies, and the ripple effects throughout the industry. 

Join hosts Mike Carrozzo and Nick Webb in this insightful episode of Cup o Joe as they sit down with Chris Lyons from North American Stainless. Dive deep into the current landscape of the steel industry, exploring critical topics like steel mill capacity utilization, lead times, and price fluctuations. Chris shares expert insights on what’s driving these trends, how they impact the broader market, and what industry players can expect in the coming months. Whether you're in manufacturing or just keeping an eye on the steel industry, this episode is packed with valuable information you won't want to miss.