Steel Mills
Nucor drops HRC price by $35/ton
Written by Laura Miller
June 24, 2024
Nucor’s weekly hot-rolled (HR) coil price registered a notable decline this week.
The steelmaker said in a letter to customers on Monday morning that its consumer spot price (CSP) for HR coil will be $680 per short ton (st) for the week of June 24. This marks a $35/st decline from last week’s CSP of $715/st.
The CSP has fallen by $100/st, or 13%, from $780/st at the beginning of June.
This week’s CSP from Nucor is in line with SMU’s June 18 market check, which assessed current spot HR coil prices at $630-740/st, with an average of $685/st.
Additionally, Nucor lowered the CSP at subsidiary California Steel Industries (CSI) by $15/st from last week to $760/st. CSI’s HR price is down from $840/st at the start of the month.
To keep track of the latest mill price notices, visit SMU’s price announcement calendar.
Laura Miller
Read more from Laura MillerLatest in Steel Mills
American mills urge Trump to maintain no exceptions on steel tariffs
"We urge you to resist any requests for exceptions or exclusions and to continue standing strong on behalf of American steel," the companies wrote.
Cliffs CEO touts employee cash bonus for buying US-made vehicles
Cleveland-Cliffs Inc. has introduced a new employee incentive program to promote American-made vehicles, support domestic production, and strengthen US supply chains.
Auction of AHMSA assets is next step in bankruptcy proceedings
An inventory valuation of the assets of Altos Hornos de Mexico SA (AHMSA) has been completed. Local reports suggest an auction for the assets of the bankrupt steel company could come as soon as the end of this month.
US mills increase shipments in January
AISI reported a 4.1% rise in US steel mill shipments from December to January.
Reports: Algoma Steel halts US shipments, plans layoffs in wake of tariff war
Facing an uncertain tariff trade war, Algoma Steel took action this week, halting steel shipments to the US, laying off employees, and prepping for an unknown future, according to local media reports.