Steel Prices

Nucor increases HR coil prices by $40/ton to $860/ton
Written by David Schollaert
February 24, 2025
Nucor has increased its consumer spot price (CSP) for hot-rolled (HR) coil for a fourth consecutive week.
As of Monday, Feb. 24, the steelmaker’s list price for HR stood at $860 per short ton (st), up $40/st from last week.
The company has increased HR prices by $110/st over the past four weeks, according to SMU’s mill price announcement calendar.
Nucor also increased HR coil base prices from its West Coast subsidiary, California Steel Industries (CSI) by $40/st this week. CSI HR now lists for $920/st.
The Charlotte, N.C.-based steelmaker noted that lead times of three to five weeks continue to be offered.
SMU’s Feb. 18 check of the market had HR coil spot prices ranging from $780-850/st and averaging $815/st. That was up $55/st from the week prior. We will update our price assessments again on Tuesday evening.

David Schollaert
Read more from David SchollaertLatest 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.