Steel Prices
Nucor maintains $720/ton HR base price
Written by David Schollaert
September 16, 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 Monday that its HR coil base price will be $720 per short ton (st). That’s steady vs. last week when Nucor bumped tags up $10/st from the previous week.
The HR coil base price at Nucor’s majority-owned subsidiary CSI is also flat from last week at $780/st.
You can track mill price announcements here.
Nucor said it will continue to offer lead times of 3-5 weeks but noted that customers should contact their district sales manager for availability.
SMU’s Sept. 10 check of the market pegged HR coil spot prices in the range of $650-720/st, with an average of $685/st. The average fell $5/st from the previous week.
David Schollaert
Read more from David SchollaertLatest in Steel Prices
SMU price ranges: Market stabilizes as summer slowdown begins
Most sheet and plate prices edged lower again this week, albeit at a slower pace compared to the movements seen over the last seven weeks. Buyers remain cautious and hesitant to hold onto much inventory, citing lingering demand concerns, ongoing tariff uncertainty, and a potentially weakening scrap market in June.
CRU: Pig iron prices stable to low in key markets amid soft demand
Market participants in both the US and Europe noted that most buyers are patiently waiting for prices to reduce as they have enough inventory at hand.
SMU price ranges: Indices drop across the board
All of SMU’s sheet and plate steel price indices declined this week, easing by $30-40 per short ton (st) on average since early May. Prices continue to slide lower as buyers remain on the sidelines, wary of holding much excess inventory and expecting further declines.
HRC vs. prime spread narrows further in May
The price spread between hot-rolled coil (HRC) and prime scrap narrowed again in May, according to SMU’s most recent pricing data.
Miller on Pig Iron: Buyers eye lower prices
Since the US ferrous scrap settlements for May have been finalized, steelmakers are turning their attention to continued pig iron flows with the wind behind their backs.