(by Mike Mechley, Executive VP of Strategic Procurement, www.ZekelmanIndustries.com) Platts Sept HR Coil is $541, up $97 from Aug.
Mills have customers on allocation for October and November based on historical purchases. Imports not price competitive and therefore shipments are lower, only special items selling. Raw materials price strong due to China stimulus. Brazil slab quota for the 4th quarter reduced from 350kMT to 60kMT, 2021 back to previous agreement. HR lead time 4-8 weeks, CR lead time 5-8 weeks. US Mills capacity utilization rate is 63.7%. Platts Sept CR Coil is $712, up $98 from Aug. Zinc is $1.09lb. Sept Chicago #1 Bush $290, up $30 from Aug
$1 U.S. Dollar = $1.32 Canadian Dollar.