Nucor cuts HR price for fourth straight week

Nucor lowered its consumer spot price (CSP) for hot-rolled (HR) coil by another $10 per short ton (st) for the first week of July.

The steelmaker said in a letter to customers on Monday that its CSP base price for the week will be $670/st for all of its sheet mills with the exception of California Steel Industries (CSI).

This is the fourth consecutive week of declines in Nucor’s CSP. It’s now fallen by $110/st since the start of June.

Note that Nucor’s $670/st HR price this week is the same as SMU’s average spot HR price of $670/st established on Tuesday last week.

Meanwhile, CSI’s HR base price will be $750/st this week, a drop of $10/st from the previous week and down $90/st from the first week of June.

Nucor’s letter said lead times of 3-5 weeks will continue to be offered but to contact district sales managers for availability.

Laura Miller

Laura Miller is a reporter and editor for Steel Market Update. She has held various editorial positions with steel industry publications, associations, and mills since 2007. She joined the SMU team in 2022. She is a member of the Association of Women in the Metal Industries and a past-president of the AWMI Pittsburgh Chapter. She holds a BA in Latin American Studies from Edinboro University of Pennsylvania.