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 Futures: Correction in market after big rally
Another eventful week in the physical and financial steel markets is coming to a close, but with a markedly different tone than the last update at the end of February.
US and offshore HRC prices tick lower
The threat of tariffs over the past two months has been a springboard for US prices. But the Section 232 reinstatement on March 13 narrowed the domestic premium over imports on a landed basis.
SMU price ranges: Mixed market as buyers await trade clarity
SMU's steel price indices moved in differing directions this week but remained largely stable as cautious buyers await clarity on pending steel tariffs and trade cases.
Nucor slows HRC price climb with $5/ton increase
After eight weeks of double-digit price increases on hot-rolled (HR) coil, Nucor slowed the price rise this week with an increase of $5 per short ton.
HR Futures: Market drifts lower on light volume
Over the past couple of weeks, Midwest HRC futures have been drifting lower on light volume. This begs the question if the rally has run out of steam, or is it catching its breath after ripping roughly $150 in less than two weeks? The April CME Midwest HRC future made an intraday high at $976 […]