(by Mike Mechley, Executive VP of Strategic Procurement, www.ZekelmanIndustries.com) Platts Oct HR Coil $715 down $20 from Sept. UAW and the Big 3 auto companies narrow differences, still large gap in wage expectations. USS Granite City idles furnace, closing hot mill. Mills maintenance, SDI production issues, increased solar demand, minimal reductions in auto steel production and buyers restocking have increased lead times at several mills. HR lead time 4-7 weeks, CR lead time 5-8 weeks. US Mills Oct capacity utilization rate is 74.7%. Platts Oct CR Coil $940 down $50 from Sept. October Chicago #1 Bush $400 flat from Sept. Zinc is $1.10LB. $1 U.S. Dollar = $1.36 Canadian Dollar.
Zekelman Industries Steel Snapshot for October 2023
14025 West Road
Houston, TX 77041