Prices
Nucor maintains $710/ton HR base price
Written by David Schollaert
September 3, 2024
Nucor’s weekly consumer spot price (CSP) for hot-rolled (HR) coil is unchanged from last week.
The steelmaker said in a letter to customers on Tuesday that its HR coil base price will be $710 per short ton (st). That’s steady from the last week of August and up $15/st from two weeks ago.
The HR coil base price for Nucor subsidiary CSI is also flat from last week at $755/st.
Lead times of 3-5 weeks will continue to be offered, but Nucor noted that customers should contact their district sales manager for availability.
SMU’s Aug. 27 check of the market pegged current HR coil spot prices in the range of $670-730/st, with an average of $700/st. That marked the fifth consecutive week of HR prices ticking higher.
David Schollaert
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Final Thoughts
Most steel buyers think that steel prices will continue to rise into the 2026. But they don’t see the kinds of big gains that have characterized past market upturns, according to the results of SMU’s latest steel market survey.
SMU Survey: Mills less negotiable on spot prices
Most steel buyers responding to our market survey this week reported that domestic mills are considerably less willing to talk price on sheet and plate products than they were in recent weeks.
Price gap between US HRC, most imports narrows slightly
In dollar-per-ton terms, US product is on average $141/st less than landed import prices (inclusive of the 50% tariff). That’s down from $148/st last week.
SMU price ranges: Sheet ticks higher, plate stable
Sheet steel indices increased across the board this week, while plate prices held steady. All five of SMU’s price indices are higher than they were two weeks ago, and all but one are above levels recorded four weeks ago.
Nucor lifts HR spot price by $10/ton
Nucor has raised its weekly spot list price on hot-rolled coil by $10 per short ton (st) after keeping it unchanged since Aug. 25.