Steel Prices
Nucor's HR spot price unchanged for 5th week
Written by Laura Miller
December 9, 2024
Nucor’s weekly spot price for hot-rolled (HR) coil will remain at $750 per short ton (st) for a fifth week.
The steelmaker communicates its weekly consumer spot price (CSP) for HR coil in a letter to customers every Monday. This week’s letter was virtually unchanged from last week, save for the date.
At October’s start, the HR CSP was $730/st. It fluctuated slightly throughout the month and started November at $740/st. It bumped up to $750/st on Nov. 12 and has not changed since.
Nucor’s published asking price for HR remains above average transaction prices in the market. Buyers reported spot prices of $640-720/st, with an average of $680/st, in SMU’s market check on Tuesday, Dec. 3.
You can keep track of steel price moves using the steel mill price increase calendar on our website.
CSI CSP
The spot price for HR coil from California Steel Industries (CSI) is also steady this week at $810/st.
The higher price for material from Nucor’s joint-venture subsidiary in Fontana, Calif., reflects the higher tags typical in the West Coast market.
The CSP for CSI started October at $790/st, November at $800/st, and December at $810/st.
Laura Miller
Read more from Laura MillerLatest 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.