We had a special guest speaker, Tim Stevenson, presenting to the group. Tim is a steel hedging professional who provided insight on navigating the industry's twists and turns using financial tools and instruments.

A few takeaways from the session:
Member companies are split equally in the current business conditions with 33% each indicating business has improved, stayed flat, or reduced over the last 3 months.
Most members expect the steel market to be softer by the end of this quarter and going into the end of 2022. Geopolitical events have been baked into market pricing.
Hedging can be useful in creating resilient earnings, especially in tough times.It is important to onboard a professional to determine your company's optimal hedging strategy and exposure.
Dipping your toes in the water and setting up a clearing account to learn the market is a good idea.
There are many ways to get creative and utilize commodities to hedge even if your ultimate business does not have a 1:1 correlation with the commodity.

Supply chain issues are still genuine though there has been some relief in road and ocean transportation.
MXN is laser-focused on helping members run their businesses better. We welcome you to attend an upcoming virtual or in-person event.