Nucor raises HR spot price to $775/ton

Nucor increased its consumer spot price (CSP) for hot-rolled (HR) coil to $775 per short ton (st) on Monday, Feb. 3.

The $15/st week-on-week (w/w) rise marks the first back-to-back increases in the steelmaker’s weekly CSP since last August, according to SMU’s mill price announcement calendar.

Nucor’s joint-venture subsidiary California Steel Industries (CSI) is also up $15/st on HR coil to $835/st, said a letter to customers.

Even with the repeated increases, lead times of 3-5 weeks continue to be offered, the Charlotte, N.C.-based company said.

SMU’s average HR price has also seen little change since November and is presently at $700/st, up $15/st w/w, according to our interactive pricing tool.

We will update our indices this week and publish the prices in Tuesday’s newsletter.

David Schollaert

David Schollaert is deputy editor-in-chief for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. He can be contacted at david@steelmarketupdate.com or 724-720-1008.