Steel Prices
Nucor increases CSP, aims for $740/ton HRC
Written by Brett Linton
October 28, 2024
Nucor has raised its weekly consumer spot price (CSP) for hot-rolled (HR) coil by $20 per short ton (st). It stands at at $740/st as of Monday, Oct. 28.
The CSP was $720/st for the previous two weeks and $730/st one month ago. View our Steel Mill Price Announcement Calendar for historical figures.
The HR coil base price for Nucor subsidiary CSI also increased $20 from last week to $800/st. It was at $780/st for the two weeks prior and $790/st one month ago.
Lead times of 3-5 weeks will continue to be offered. Published extras will apply to all spot transactions, the Charlotte, N.C.-based steelmaker said.
SMU’s Oct. 22 check of the market had HR coil spot prices ranging from $650-720/st, averaging $685/st and down $5/st from the week prior.
Brett Linton
Read more from Brett LintonLatest in Steel Prices
SMU Survey: Mills remain flexible on pricing, buyers say
The majority of steel buyers responding to our market survey this week continue to say that mills are negotiable on new spot order prices. Negotiation rates have remained high since May.
Spread between US HRC and imports widens on S232
HRC prices in the US eroded further last week, while offshore prices varied week over week (w/w), widening the price margin between stateside and foreign product.
SMU price ranges: Flat-rolled balloon continues to leak
Sheet and plate prices were flat or lower again this week on continued concerns about demand and higher production rates among US mills.
US pig iron market lacks price firmness
Prices remain subdued in US pig iron market, sources said.
Cliffs inks longer-term contracts with US automakers hedging tariff inflation: Report
Cleveland-Cliffs Inc. has reportedly signed "unusually long" fixed-price supply agreements with multiple US automakers.