(by Mike Mechley, Executive VP of Strategic Procurement, www.ZekelmanIndustries.com) Platts November HR Coil $900 up $185 from Oct. UAW and auto Big 3 have tentative agreement. USS and Nucor raise HRC to $950, Cliffs $1,000. Extremely limited spot HRC available. HRC futures over $1,000 for December. World HRC prices rally, more increases expected. China stimulus increases raw material pricing. USS Granite City will continue to hot roll slabs. HR lead time 7-9 weeks, CR lead time 8-9 weeks. US Mills Nov capacity utilization rate is 73.9%. Platts November CR Coil $940 up $160 from Oct. Nov Chicago #1 Bush $430 up $30 from Oct. Zinc is $1.18LB. $1 U.S. Dollar = $1.38 Canadian Dollar.
Zekelman Industries Steel Snapshot for November 2023
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