Steel Prices
Nucor drops HRC price to $720/ton
Written by Laura Miller
October 14, 2024
After holding its weekly spot price for hot-rolled (HR) coil steady for three weeks at $730 per short ton (st), Nucor lowered the price this week by $10/st.
The Charlotte, N.C.-based steelmaker notified customers in a letter on Monday that this week’s base consumer spot price (CSP) for HR coil will be $720/st.
This week’s price is flat compared to a month ago. The CSP has remained within a $50/st spread since late July.
SMU’s Oct. 8 check of the market revealed HR coil prices to be in the range of $660-730/st, with an average of $695/st. Nucor’s CSP has been at the high end of SMU’s price range since the week of Sept. 8. Subscribers can track prices for steel sheet and plate using the Interactive Pricing Tool on our website.
Nucor’s letter again noted that it will continue offering 3-5 weeks lead times for HR spot purchases.
SMU’s survey last week showed lead times of 3-7 weeks for HR coil in the wider market, with an average of 5.0 weeks.
West Coast CSP
Nucor also lowered the CSP for HR coil from its West Coast joint-venture subsidiary, California Steel Industries (CSI), by $10/st from last week to $780/st.
Laura Miller
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