Steel Prices
Nucor holds HR price steady this week
Written by Laura Miller
April 22, 2024
Nucor is holding its hot-rolled (HR) coil consumer spot price (CSP) flat this week.
On Monday morning, the steelmaker published an $835-per-short-ton (st) HR coil base price for the week of April 22, unchanged from last week’s announcement. The price is effective immediately and will remain in place until a new CSP is announced next Monday, the company said in a letter to customers.
It noted that $835/st will be the base price for all its producing mills except for its California Steel Industries (CSI) subsidiary. CSI’s HR coil base price increased by $10 from last week to $900/st this week.
Nucor told customers that it will maintain lead times of three to five weeks for spot orders “to aid in supporting your ability to better plan.”
Nucor announced its new CSP pricing mechanism on April 4. On April 8, it announced a CSP of $830/st before raising it to $835/st on April 15.

Laura Miller
Read more from Laura MillerLatest in Steel Prices

SMU price ranges: Market stabilizes as summer slowdown begins
Most sheet and plate prices edged lower again this week, albeit at a slower pace compared to the movements seen over the last seven weeks. Buyers remain cautious and hesitant to hold onto much inventory, citing lingering demand concerns, ongoing tariff uncertainty, and a potentially weakening scrap market in June.

CRU: Pig iron prices stable to low in key markets amid soft demand
Market participants in both the US and Europe noted that most buyers are patiently waiting for prices to reduce as they have enough inventory at hand.

SMU price ranges: Indices drop across the board
All of SMU’s sheet and plate steel price indices declined this week, easing by $30-40 per short ton (st) on average since early May. Prices continue to slide lower as buyers remain on the sidelines, wary of holding much excess inventory and expecting further declines.

HRC vs. prime spread narrows further in May
The price spread between hot-rolled coil (HRC) and prime scrap narrowed again in May, according to SMU’s most recent pricing data.

Miller on Pig Iron: Buyers eye lower prices
Since the US ferrous scrap settlements for May have been finalized, steelmakers are turning their attention to continued pig iron flows with the wind behind their backs.