Steel Prices

Nucor raises hot rolled spot price to $750/ton
Written by Brett Linton
November 12, 2024
On Tuesday, Nov. 12, Nucor increased its weekly consumer spot price (CSP) for hot-rolled (HR) coil this week to $750 per short ton (st).
The CSP had been $740/st for the two previous weeks. A month ago, it was $720/st.
The HR coil base price for Nucor subsidiary CSI also increased by $10/st to $810/st this week. It was $800/st for the two weeks before that and $780/st one month ago.
The Charlotte, N.C-based steelmaker noted that lead times of 3-5 weeks continue to be offered, and customers should contact their district sales manager for availability. Published extras will apply to all spot transactions.
SMU’s Nov. 5 check of the market had HR coil spot prices ranging from $640-720/st, averaging $680/st, down $5/st from the week prior. We will update our price indices this evening.

Brett Linton
Read more from Brett LintonLatest 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.