Nucor increases weekly HR price again by $10/ton

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

David Schollaert is deputy editor-in-chief for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. He can be contacted at david@steelmarketupdate.com or 724-720-1008.