Steel Mills

Nucor Quoting $40/t Higher on Limited Spot Tons: Sources

Written by Michael Cowden

February 17, 2021

Nucor has increased spot flat-rolled steel prices for some buyers by $40 per ton ($2/cwt), according to market participants.

The electric-arc furnace (EAF) steelmaker is quoting certain customers $1,240 per ton for April hot-rolled coil, up from $1,200 previously, sources said.

What’s less clear is how many spot tons are available for purchase.Nucor Spot tonnage, which was already scarce, could become even more limited because severe winter weather has disrupted transportation and perhaps production at several southern mills, sources said.

Higher offers from Nucor come as California Steel Industries (CSI) on the West Coast and AM/NS Calvert in Alabama have also quietly lifted tags for flat-rolled products.

Steel Market Update’s price range for hot-rolled coil is $1,150-$1,250 per ton–with an average of $1,200 per ton–FOB mill, east of the Rockies.

By Michael Cowden, Michael@SteelMarketUpdate.com

Michael Cowden

Michael Cowden is editor-in-chief for Steel Market Update. Cowden has covered the steel industry since 2007. He specializes in flat-rolled steel but has also reported on steel long products, steel pipe and tube, and aluminum. Before joining SMU, Cowden held reporting jobs at Fastmarkets AMM in Chicago, the Associated Press in Pittsburgh, and the Cambodia Daily in Phnom Penh. He has also worked as a copy editor and in marketing at the University of Chicago Press. Cowden has a BA in English from the University of Chicago and an MSJ journalism from Northwestern University’s Medill School of Journalism. Contact him at michael@steelmarketupdate.com or 724-759-7872.

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