Steel Prices
Nucor increases weekly HR price again by $10/ton
Written by David Schollaert
May 28, 2024
Nucor moved its published consumer spot price (CSP) up again this week.
Effective immediately, the steelmaker’s base CSP for hot-rolled (HR) coil is $780 per short ton (st), according to a Tuesday morning letter to customers.
This week’s price is an increase of $10/st from the CSP of $770/st set on May 20.
Since stunning the market at the beginning of the month with a $65/st price cut of its published HR coil price on May 6, Nucor has bumped up its CSP by $10/st for a second straight week.
The steelmaker said it will continue to offer lead times between 3-5 weeks but to contact the company for availability.
Despite the increase, Nucor subsidiary California Steel Industries’ (CSI’s) base HR price this week is $840/st – unchanged for a third consecutive week. This price variation is driven by a West Coast market that is quite different from the rest of the country.
To keep track of the latest mill price notices, visit SMU’s price announcement calendar.
David Schollaert
Read more from David SchollaertLatest in Steel Prices
HR vs. galvanized price spread shrinks to 18-month low
The price premium of galvanized coil over hot-rolled (HR) coil has continued to narrow, a downward trend seen for the past seven months. As of this week, the spread between these two products has reached an 18-month low.
HRC vs. prime scrap spread narrows again in January
The price spread between hot-rolled coil (HRC) and prime scrap continued to narrow in January, according to SMU’s most recent pricing data. While SMU’s average HRC price edged down week over week (w/w), it rose compared to a month ago. The January price for busheling also increased from December. Our average HRC price as of […]
SMU price ranges: Slow start to the year
Steel prices ticked lower this week for four of the five products SMU tracks, according to our latest canvass of the sheet and plate markets. Following last week’s bump, our hot rolled, cold rolled, galvanized, and plate indices all edged lower this week by $5-15 per short ton (st) on average. Galvalume was the only […]
Galvanized buyers see glimmers of optimism amidst the chaos
Reflecting on 2024 and looking ahead to the new year, galvanized steel buyers on this month’s HARDI call expressed a mix of cautious optimism with lingering uncertainties.
HR Futures: Activity picks up to start 2025
US ferrous derivatives markets were largely quiet through the holiday period. Since the new year, however, we have seen a bit of a resurgence in interest as traders and sales staff return to their desks.