(by Mike Mechley, Executive VP of Strategic Procurement, www.ZekelmanIndustries.com) Platts May HR Coil $1,125 down $50 from April. Import offers have significantly increased due to a slow down in Asia and Europe, buyers passing. SDI Sinton, Nucor Gallatin, North Star are producing at higher utilization rates. High water levels in the north and lock repairs on the Illinois river are limiting scrap flow. Nucor W Virginia steel mill needs permits to start. HR lead time 4-6 weeks, CR lead time 6-8 weeks. US Mills May capacity utilization rate is 76.1%. Platts May CR Coil $1,320 down $80 from April. May Chicago #1 Bush $535 down $10 from April. Zinc is $1.17lb. $1 U.S. Dollar = $1.34 Canadian Dollar.
Zekelman Industries Steel Snapshot for May 2023
14025 West Road
Houston, TX 77041