Steel Prices

Nucor raises weekly HR price by $10/ton

Written by Laura Miller

May 20, 2024

Nucor upped its published consumer spot price (CSP) this week.

Effective immediately, the steelmaker’s base CSP for hot-rolled (HR) coil is $770 per short ton (st), according to a Monday morning letter to customers.

This week’s price is an increase of $10/st from the CSP of $760/st set on May 6 and maintained on May 13.

The bump-up in price comes after Nucor stunned the market at the beginning of the month by dropping its published HR coil price by $65/st week on week, citing limited spot activity.

The steelmaker said it will continue to offer lead times between 3-5 weeks but to contact the company for availability.

Note that Nucor subsidiary California Steel Industries (CSI) continues to be the odd man out. As the West Coast market is quite different from the rest of the country, CSI’s base HR price this week is $840/st. This is unchanged for a second consecutive week.

Laura Miller

Laura Miller is a reporter and editor for Steel Market Update. Since 2007, she has held various editorial and marketing positions with steel industry publications, associations, and mills. In 2021, after a five-year hiatus working across other industries, she returned to steel trade journalism, joining SMU in 2022. She is a member of the Association of Women in the Metal Industries and a past-president of the AWMI Pittsburgh Chapter. She holds a BA in Latin American Studies from Edinboro University of Pennsylvania. She can be reached at laura@steelmarketupdate.com or 724-759-7869.

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