Steel Prices
Nucor aims to hold HR prices steady this week at $650/ton
Written by Michael Cowden
July 22, 2024
Nucor kept its consumer spot price (CSP) for hot-rolled (HR) coil unchanged at $650 per short ton (st) this week.
HR prices for CSI, the company’s sheet subsidiary in California, held steady at $720/st. Note that sheet prices on the West Coast are typically higher than those east of the Rocky Mountains.
Nucor also said that HR lead times at its mills remained between three and five weeks.
The effort to keep prices flat this week comes after Nucor dropped HR prices by $20/t last week.
Nucor introduced its weekly CSP in early April. Sheet prices broadly speaking have been falling for most of 2024.
Case in point: SMU’s HR price stood at $640/st on average when this article was filed on Monday. That’s off nearly 7% from $685/st a month ago, according to our interactive pricing tool. It’s also down nearly 40% from $1,045/st at the beginning of the year.
We will next update sheet and plate prices on Tuesday evening.
Michael Cowden
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