(by Mike Mechley, Executive VP of Strategic Procurement, www.ZekelmanIndustries.com) Platts Sept HR Coil $735 down $55 from August. UAW and Auto manufacturers negotiations are continuing with no agreement, contract expires midnight September 14th with strike probable. Inventories of steel products continue to be low. No price advantage to import steel . Mill maintenance September through year end is taking ~1M tons of production out of supply chain. HR lead time 3-6 weeks, CR lead time 5-7 weeks. US Mills Sept capacity utilization rate is 75.7%. Platts Sept CR Coil $990 down $30 from August. Sept Chicago #1 Bush $400 down $50 from Aug. Zinc is $1.11LB. $1 U.S. Dollar = $1.36 Canadian Dollar.
Zekelman Industries Steel Snapshot for September 2023
14025 West Road
Houston, TX 77041