Nucor cuts CSP by $20/ton, third straight drop

Nucor has lowered its consumer spot price (CSP) by $20 per short ton (st), marking the third consecutive weekly decrease.

This week’s base CSP will be $880/st, the Charlotte, N.C.-based steelmaker said to customers in a letter on Monday.

Nucor noted that lead times for all spot orders will be offered between 3-5 weeks. Published extras will apply to all spot transactions.

At Nucor’s California subsidiary CSI, the price will be $940/st, also down $20 from the previous week.

As of May 13, SMU’s average HRC price was $845/st FOB mill, east of the Rockies. That’s off $30 from a week prior.

Meanwhile, SMU’s average lead time for HRC stood at 4.6 weeks as of May 14, off 0.5 weeks from two weeks earlier.

Ethan Bernard

Ethan Bernard is managing editor for Steel Market Update. He previously worked for American Metal Market as a copy editor in the New York office for two years, starting in 2008. Later, he copy edited AMM’s monthly magazine on a freelance basis from 2015 until 2017. With experience in financial copywriting and textbook publishing, he holds a BA in Comparative Literature from UC Berkeley, and an MFA. in Creative Writing from New York University. He can be reached at ethan@steelmarketupdate.com or 724-759-7871.

Ethan Bernard

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