Steel Prices
Nucor increases weekly HR price again by $10/ton
Written by David Schollaert
May 28, 2024
Nucor moved its published consumer spot price (CSP) up again this week.
Effective immediately, the steelmaker’s base CSP for hot-rolled (HR) coil is $780 per short ton (st), according to a Tuesday morning letter to customers.
This week’s price is an increase of $10/st from the CSP of $770/st set on May 20.
Since stunning the market at the beginning of the month with a $65/st price cut of its published HR coil price on May 6, Nucor has bumped up its CSP by $10/st for a second straight week.
The steelmaker said it will continue to offer lead times between 3-5 weeks but to contact the company for availability.
Despite the increase, Nucor subsidiary California Steel Industries’ (CSI’s) base HR price this week is $840/st – unchanged for a third consecutive week. This price variation is driven by a West Coast market that is quite different from the rest of the country.
To keep track of the latest mill price notices, visit SMU’s price announcement calendar.
David Schollaert
Read more from David SchollaertLatest in Steel Prices
HR Futures: Consequences of a tariff trap
As another month goes by and another futures columnist starts by saying “not much to see here,” I understand that a reader might flip their brain to skim mode.
Gap between US HR prices and imports widens
SMU’s average price for domestic HR coil moved $5 higher this week, while price movements in offshore markets varied. This dynamic...
SMU Price Ranges: Sheet floor holds as market debates upside
Our average HR coil price increased $5/short ton from last week, marking a second consecutive week of modest gains. Market participants generally attributed the increase to...
Nucor HR spot price flat at $875/ton
Nucor kept its consumer spot price (CSP) for hot-rolled coil at $875 per short ton (st) for the ninth straight week.
HRC-galvanized price gap narrows
After marginally rising in August and September, the premium galvanized coil carries over hot-rolled coil (HRC) coil has narrowed again in recent weeks. As of Sept. 16, the spread between these two products has shrunk to a two-and-a-half-year low of $125 per short ton (st).