Zzzzzz’s from Zekelman when analysts forecast steel prices, but tariffs delight

摘要

New York—Barry Zekelman, executive chairman and CEO of Zekelman Industries, doesn’t care about steel-price forecasts – but he’s passionate about US steel tariffs. As head of the largest independent steel pipe and tube manufacturer in North America, he’s quick to say: “I don’t know any buyer in North America that buys more steel than me.” The company purchases about 2.5 million st/year. But Zekelman dismissed independent steel-price forecasts. When told that World Steel Dynamics’ Peter Marcus was forecasting a steel boom in Q1 2020 with hot-rolled coil reaching $720/st: “That’s good. Has Peter ever bought a pound? I’ve never paid attention to any analyst in steel. I never have. I know what I pay and I know my methodology and where I see it going. So I’m pretty confident in my predictions.”