Steel Prices

NLMK USA said to be seeking $900/st HR and $1,100/st for tandem products
Written by Michael Cowden
February 20, 2025
NLMK USA has opened its April order book at new, higher base prices for steel sheet, according to market participants.
The steelmaker is seeking at least $900 per short ton (st) for hot-rolled (HR) coil and at least $1,100/st for cold-rolled and coated products, they said.
NLMK USA has not written the increase on company letterhead, sources said.
NLMK USA operates an electric-arc furnace (EAF) steel mill in Portage, Ind., a hot-strip mill and a cold-reduction mill in Farrell, Pa., and a galvanizing facility in Sharon, Pa. The Portage mill has a capacity of 800,000 st per year.
The company has a smaller presence in the US than major sheet mills such as Nucor, Cleveland-Cliffs, Steel Dynamics Inc. (SDI), and U.S. Steel. But it is a significant player in the spot market.

Michael Cowden
Read more from Michael CowdenLatest 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.