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    August 19, 2024

    Nucor inches HR price up, aims for $695/ton

    Written by David Schollaert

    Nucor increased its consumer spot price (CSP) for hot-rolled (HR) coil to $695 per short ton (st), up $5/st from last week.

    This marks Nucor’s smallest price change since the Charlotte, N.C.-based steelmaker began publishing its weekly spot price on April 8.

    HR prices for CSI, the company’s sheet subsidiary in California, also rose. Nucor aims to collect $760/st for HR from CSI, also up $5/st from last week. Note that sheet prices on the West Coast are typically higher than those east of the Rocky Mountains.

    Lead times of 3-5 weeks will continue to be offered, but Nucor noted for customers to contact their district sales manager for availability.

    SMU’s Aug. 13 check of the market put current HR coil spot prices in the range of $630-700/st, with an average of $665/st. That marked the third straight week of HR prices ticking higher.

    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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