Steel Products Prices North America
HRC, Prime Scrap Price Spread Narrows Again in June
June 16, 2023
The spread between hot-rolled coil (HRC) and prime scrap prices narrowed further in June, according to Steel Market Update data.
Both the averages of SMU’s HRC and busheling scrap prices slipped this week.
Our HRC average fell $5 per net ton week-over-week to sit at $930 per ton ($46.50 per cwt) as of Tuesday, June 13.
Meanwhile, after settling, busheling tags decreased $50 per gross ton from May to an average of $460 per gross ton for June. Figure 1 shows price histories for each product.
After converting scrap prices to dollars per net ton for an equal comparison, the differential between HRC and busheling scrap prices is $519 per net ton as of June 16, sinking $131 from $650 in May. (Figure 2). This is the second consecutive month of narrowing after having widened at the start of the year.
By the way, did you know our Interactive Pricing Tool has the capability to show steel and scrap prices in dollars per net ton, dollars per metric ton, and dollars per gross ton?
Figure 3 explores this relationship in a different way – we have graphed HRC’s premium over busheling scrap as a percentage. HRC prices now carry a 102% premium over prime scrap, down from 117% a month ago.
This comparison was inspired by reader suggestions. If you would like to chime in with topics you want us to explore, reach out to our team at news@steelmarketupdate.com.
By Ethan Bernard, ethan@steelmarketupdate.com
Latest in Steel Products Prices North America
Nucor lifts HR coil to $820/ton
Nucor has increased its consumer spot price (CSP) for hot-rolled (HR) coil for a fourth consecutive week.
Nucor pushes HR spot price to $790/ton
Nucor increased its consumer spot price (CSP) for hot-rolled (HR) coil to $790 per short ton (st) on Monday, Feb. 10 – a $15/st bump vs. last week. The Charlotte, N.C.-based company has raised its weekly CSP by $40/st over the past three weeks after maintaining tags at $750/st since Nov. 12, according to SMU’s […]
ArcelorMittal Dofasco increases spot sheet prices
ArcelorMittal Dofasco is raising spot sheet prices by CA$100 per ton (US$70/ton). The Hamilton, Ontario-based flat rolled steelmaker told customers the increase is effective immediately for all new orders. It did not specify to what level this brings its base prices but noted its right to re-quote previous but unconfirmed orders. “We will continue to […]
Nucor raises HR spot price to $775/ton
Nucor increased its consumer spot price (CSP) for hot-rolled (HR) coil to $775 per short ton (st) on Monday, Feb. 3. The $15/st week-on-week (w/w) rise marks the first back-to-back increases in the steelmaker’s weekly CSP since last August, according to SMU’s mill price announcement calendar. Nucor’s joint-venture subsidiary California Steel Industries (CSI) is also up […]
Nucor raises HR spot price to $760/ton
Nucor increased its consumer spot price (CSP) for hot-rolled (HR) coil to $760 per short ton (st) on Monday, Jan. 21. The $10/st week-on-week (w/w) rise marks the first increase in the CSP since Nov. 12. According to SMU’s mill price announcement calendar, the Charlotte, N.C.-based steelmaker held the weekly price at $750/st for 11 […]