Steel Mills

Nucor Boosts Sheet Prices, Seeks $950/ton HRC

November 8, 2023

Nucor Corp. announced in a letter to customers on Wednesday morning that it would increase prices for new orders of steel sheet effective immediately.

The Charlotte, N.C.-based steelmaker said it was seeking a minimum base price of $950 per ton ($47.50/cwt) for hot-rolled coil (HRC) and at least $1,150 per ton ($57.50/cwt) for heavy gauge hot roll (>.750” thick).

The company did not specify new base prices for cold-rolled or coated material.

Nucor’s move comes after Cleveland-Cliffs on Tuesday said was seeking at least $1,000 per ton for HRC. Nucor last announced an increase for HRC to $800 per ton on Oct. 19.

HRC prices have not been at or above $1,000 per ton since May, according to our interactive pricing tool.

To keep track of the latest mill price increases, visit SMU’s price increase calendar.

Becca Moczygemba

Becca Moczygemba is a reporter and editor for Steel Market Update. She has been in the steel industry since 2017, specializing in flat-rolled products. Prior to joining SMU, she held positions at Mitsui & Co. and Kloeckner Metals. Becca has a BA in Organizational/Corporate Communication from the University of Houston and an MBA from Norwich University. Contact Becca at becca@steelmarketupdate.com or 724-720-1000.