Steel Mills
Nucor drops HRC price by $35/ton
Written by Laura Miller
June 24, 2024
Nucor’s weekly hot-rolled (HR) coil price registered a notable decline this week.
The steelmaker said in a letter to customers on Monday morning that its consumer spot price (CSP) for HR coil will be $680 per short ton (st) for the week of June 24. This marks a $35/st decline from last week’s CSP of $715/st.
The CSP has fallen by $100/st, or 13%, from $780/st at the beginning of June.
This week’s CSP from Nucor is in line with SMU’s June 18 market check, which assessed current spot HR coil prices at $630-740/st, with an average of $685/st.
Additionally, Nucor lowered the CSP at subsidiary California Steel Industries (CSI) by $15/st from last week to $760/st. CSI’s HR price is down from $840/st at the start of the month.
To keep track of the latest mill price notices, visit SMU’s price announcement calendar.
Laura Miller
Read more from Laura MillerLatest in Steel Mills
SSAB posts Q3 profit, sees caution among US buyers
Swedish steelmaker SSAB said its weaker third-quarter financial performance was due to muted demand, planned maintenance outages, and the continued decline of US plate prices.
Nucor upbeat on progression of flat rolled expansions
Nucor isn’t overly concerned with low utilization rates or an oversupplied market, as its investment strategy is for the long term, executives reminded investors on Tuesday.
Nucor Q3 profit falls sharply on lower steel prices, further drop seen in Q4
Nucor's profits dropped precipitously in the third quarter on lower prices in its steel mills segment as the company expects a continued earnings slide for Q4'24.
Nucor holds HR base price at $720/ton
Nucor is holding its hot-rolled coil consumer spot price at $720/short ton this week.
Nucor commissions SMS group to upgrade Alabama plate mill
Nucor Corp. has commissioned SMS group to upgrade its Tuscaloosa, Ala., plate mill.