(by Mike Mechley, Executive VP of Strategic Procurement, www.ZekelmanIndustries.com) Platts May HR Coil $1,380, down $120 from April. Mini mills panic to secure pig iron has subsided. Auto chip shortage expected to last until 2024. Zekelman opens worlds largest continuous electric resistance welding (ERW) mill. Imports forecast to be sharply lower May forward. Nucor Gallatin and North Star BlueScope expected to bring on new capacity in June. HR lead time 4-5 weeks, CR lead time 5-7 weeks. US Mills May capacity utilization rate is 81.4%. Platts May CR Coil $1,780, down $120 from April. May Chicago #1 Bush $685, down $75 from April. Zinc is $1.67lb $1 U.S. Dollar = $1.30 Canadian Dollar.
Zekelman Industries Steel Snapshot for May 2022
14025 West Road
Houston, TX 77041