(by Mike Mechley, Executive VP of Strategic Procurement, www.ZekelmanIndustries.com) Platts Dec HR Coil $1,100 up $200 from Nov. Cliffs, Mittal, Nucor others targeting $1100 HRC. Turkey is active buyer in the scrap market. US prime scrap prices forecast Jan + $20 to $30. Imported steel expected to rise in 1st Qtr 2024. Coking Coal and Pig Iron up slightly in December. Light vehicle inventories climbing. SDI Sinton + Nucor Gallatin increase production. HR lead time 5-7 weeks, CR lead time 6-8 weeks. US Mills Dec capacity utilization rate is 73.8%. Platts Dec CR Coil $1,300 up $200 from Nov. Dec Chicago #1 Bush $510 up $80 from Nov. Zinc is $1.10LB. $1 U.S. Dollar = $1.36 Canadian Dollar.
Zekelman Industries Steel Snapshot for December 2023
Pipe Exchange
14025 West Road
Suite 100
Houston, TX 77041
- Phone: 713.934.9480
- Fax: 713.934.9490
- Email: sales@pipexch.com