Steel Prices

Nucor increases weekly HR price again by $10/ton

Written by David Schollaert

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

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