(by Mike Mechley, Executive VP of Strategic Procurement, www.ZekelmanIndustries.com) Platts Jan HR Coil $1,100 no change from Dec. Cliffs HRC goal is $1,150 no mills have followed. USS has agreed to sell to Nippon for ~$15 Billion some politicians and the union are objecting to the sale, but it is proceeding, and it is likely to be approved in the 2nd or 3rd quarter. Auto sales are up, but inventories are increasing. China stimulus will prop up steel raw materials. HR lead time 4-7 weeks, CR lead time 5-8 weeks. US Mills Jan capacity utilization rate is 76.9%. Platts Jan CR Coil $1,330 up $30 from Dec. Jan Chicago #1 Bush $480E down $30 from Dec. Zinc is $1.13LB $1 U.S. Dollar = $1.34 Canadian Dollar.
Zekelman Industries Steel Snapshot for January 2024
Pipe Exchange
14025 West Road
Suite 100
Houston, TX 77041
- Phone: 713.934.9480
- Fax: 713.934.9490
- Email: sales@pipexch.com