Steel Prices

Nucor increases sheet prices, seeks $1,100/ton HRC
Written by Michael Cowden
November 27, 2023
Nucor aims to increase base prices on all new sheet orders, effective immediately.

The Charlotte, N.C.-based steelmaker is seeking at least $1,100 per ton ($55 per cwt) for hot-rolled coil (HRC), according to a Monday letter to customers.
That is up $150 per ton from the $950 per ton the company announced on Nov. 8, per SMU’s price increase calculator.
Nucor said it was also targeting at least $1,300 per ton for heavy-gauge hot-rolled products (>0.75 inches thick). That’s up $150 per ton from its previous target price.

Michael Cowden
Read more from Michael CowdenLatest in Steel Prices

Gap between US HR and landed import prices starts to narrow
The price gap between stateside hot band and landed offshore product narrowed this week. Still, with the 50% Section 232 tariff, most imports remain much more expensive than domestic material.

SMU Price Ranges: A newsy week sees modest price gains despite a quiet spot market
Market participants predicted that prices should be at or near a bottom. But while most seemed to agree on that point, many also said they saw little upside given a quiet spot market and ongoing concerns about demand.

Nucor increases plate prices by $60/ton
Nucor aims to increase prices for steel plate by $60 per short ton with the opening of its November order book.

Nucor’s $875/ton HR spot price spills into week six
Nucor is keeping hot-rolled (HR) coil prices unchanged again this week, according to its latest consumer spot price (CSP) notice issued on Monday, Sept. 29.

SSAB aims to up plate prices by at least $60/ton
SSAB Americas sent a price increase notification to customers announcing that transaction prices on all its products are increasing by a minimum of $60 per short ton (st).