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    June 10, 2024

    Nucor cuts weekly HR price by $60/ton

    Written by David Schollaert

    Nucor said on Monday that it would lower its weekly hot-rolled (HR) coil price effective immediately.

    In a letter to customers, the company said its consumer spot price (CSP) for the week of June 10 would be $720 per short ton (st), a $60/st cut vs. the prior week.

    This is not the first big cut by the Charlotte, N.C.-based steelmaker. The company also cut its HR CSP by $65/st on May 6.

    Base prices for Nucor’s California Steel Industries (CSI) subsidiary will be $780/st, a decrease of $60/st from its June 3 price of $840/st. The higher price reflects the differing market dynamics between the West Coast market and 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.

    Read more from David Schollaert

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