Steel Prices
Nucor lowers HRC price to $910/ton
Written by David Schollaert
May 5, 2025
After holding its weekly spot price for hot-rolled (HR) coil steady for three weeks at $930 per short ton (st), Nucor lowered the price this week by $20/st.
The Charlotte, N.C.-based steelmaker notified customers in a letter on Monday that this week’s base consumer spot price (CSP) for HR coil will be $910/st.
It marks Nucor’s second only decrease year to date, and its first double-digit cut since Oct. 14, 2024, when it lowered prices by $10/st to $720/st.
This week’s price is its lowest since March 10, when its CSP was $900/st – at the time on a six-week, $140/st rally.
SMU’s April 29 check of the market revealed HR coil prices to be in the range of $820-950/st, with an average of $885/st. Members can track prices for steel sheet and plate using the Interactive Pricing Tool on our website.
Nucor’s letter again noted that it will continue offering 3-5 weeks’ lead times for HR spot purchases.
SMU’s survey last week showed lead times of 3-6 weeks for HR coil in the wider market, with an average of 5.1 weeks.
West Coast CSP
Nucor also lowered the CSP for HR coil from its West Coast joint-venture subsidiary, California Steel Industries (CSI), by $20/st from last week to $970/st.
SMU members can also view historical flat-rolled and plate price announcements on our steel mill price announcement calendar.
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.