Mills
January 26, 2026
Written by David Schollaert
Nucor’s consumer spot price (CSP) for hot-rolled coil increased to $965 per short ton (st), up $5/st vs. the prior week.
The Charlotte, N.C.-based steelmaker said in a letter on Monday, Jan. 26, that the CSP for its West Coast joint venture, California Steel Industries (CSI), is also up $5/st week over week to $1,015/st.
SMU’s Mill Order Index (MOI) accelerated in August for a fourth consecutive month, reaching its strongest reading in nearly five years.
The current plate market squeeze has been driven by improved demand and heightened import barriers, including 50% Section 232 tariffs. But the timing of fall outages—even if they were planned—is exacerbating the supply crunch.
Domestic raw steel output fell to a six-month low last week after hitting a multi-year high one week earlier, according to the latest American Iron and Steel Institute (AISI) figures.
The proposed Hyundai-POSCO steel mill in Louisiana has been approved for up to $1.3 billion in bond financing, according to state records and local media reports.
The United Steelworkers (USW) union plans to extend its current labor contract with U.S. Steel and Cleveland-Cliffs by 48-hours on a rolling basis, the union told SMU on Monday.