(by Mike Mechley, Executive VP of Strategic Procurement, www.ZekelmanIndustries.com) Platts Nov HR Coil $1,840, down $120 from Oct. EU agrees to quotas starting Jan 1st by country and by category based on historical shipments. Japan, UK are seeking quotas to replace tariffs. China reduces steel production in October. Chip availability is increasing, auto producers are trying to replenish low dealer inventories. Cliffs, North Star, Algoma buy scrap companies. HR lead time 4-6 weeks, CR lead time 6-9 weeks. US Mills Nov capacity utilization rate is 83.4%. Platts Nov CR Coil $2,140, down $50 from Oct. Nov Chicago #1 Bush $580, up $20 from Oct. Zinc is $1.48lb \. $1 U.S. Dollar = $1.24 Canadian Dollar.
Zekelman Industries Steel Snapshot for Nov 2021
14025 West Road
Houston, TX 77041