Steel Prices
Nucor holds HR base price at $730/st
Written by Laura Miller
September 30, 2024
Nucor is holding its hot-rolled (HR) coil consumer spot price (CSP) at $730 per short ton (st) this week.
The sideways move follows a $10/st increase last week. This week’s CSP is $20/st higher than a month ago.
A CSP of $730/st puts Nucor’s HR price at the top of SMU’s range. Our Sept. 24 market check pegged HR coil prices at $660-730/st, with an average of $695/st.
In a letter to customers on Monday, the steelmaker noted that the HR price at its CSI joint venture subsidiary in California will be $790/st. That’s also flat from last week.
Nucor said it will offer lead times of 3-5 weeks, but customers should contact their district sales manager for availability.
Last week’s SMU survey showed lead times for HR coil currently range from 3-6 weeks, with an average of 4.9 weeks.
You can track this and other moves on SMU’s steel mill price announcement calendar on our website.
Laura Miller
Read more from Laura MillerLatest in Steel Prices
October scrap market settles with bush down $20, shred down $10
Most mills sought a drop of $20-40 per gross ton (gt) in busheling prices and a $20/gt dip for shredded and HMS. Despite efforts to buy cheaper, the busheling price settled at down only $20/gt.
SMU Price Ranges: HR holds, galv slips amid competing market narratives
SMU’s sheet and plate prices see-sawed this week as hot-rolled (HR) coil prices held their ground while prices for galvanized product slipped.
Nucor carries $875/ton HR list price into week seven
Nucor is keeping hot-rolled (HR) coil prices unchanged again this week, according to its latest consumer spot price (CSP) notice issued on Monday, Oct. 6
Gap between US HR and landed import prices starts to narrow
The price gap between stateside hot band and landed offshore product narrowed this week. Still, with the 50% Section 232 tariff, most imports remain much more expensive than domestic material.
SMU Price Ranges: A newsy week sees modest price gains despite a quiet spot market
Market participants predicted that prices should be at or near a bottom. But while most seemed to agree on that point, many also said they saw little upside given a quiet spot market and ongoing concerns about demand.