Steel Prices

Nucor ups weekly HR price by $10/ton
Written by Brett Linton
September 23, 2024
Nucor increased its weekly consumer spot price (CSP) for hot-rolled (HR) coil by $10 per short ton (st) this week. In a letter to customers on Monday, Sept. 23, the steelmaker said its HR price will be $730/st.
The CSP had been $720/st for the last two weeks. A month ago, it was $710/st.
Nucor also adjusted the HR coil base price for subsidiary CSI, raising it by $10/st from last week to $790/st. One month ago it was $775/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. Published extras will apply to all spot transactions.
SMU’s Sept. 17 check of the market had HR coil spot prices ranging from $660-720/st, with an average of $690/st.

Brett Linton
Read more from Brett LintonLatest 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.