Nucor increases HR coil prices by $40/ton to $860/ton

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

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.