Steel Products Prices North America

Nucor cuts HR price for fourth straight week

July 1, 2024

Nucor lowered its consumer spot price (CSP) for hot-rolled (HR) coil by another $10 per short ton (st) for the first week of July.

The steelmaker said in a letter to customers on Monday that its CSP base price for the week will be $670/st for all of its sheet mills with the exception of California Steel Industries (CSI).

This is the fourth consecutive week of declines in Nucor’s CSP. It’s now fallen by $110/st since the start of June.

Note that Nucor’s $670/st HR price this week is the same as SMU’s average spot HR price of $670/st established on Tuesday last week.

Meanwhile, CSI’s HR base price will be $750/st this week, a drop of $10/st from the previous week and down $90/st from the first week of June.

Nucor’s letter said lead times of 3-5 weeks will continue to be offered but to contact district sales managers for availability.

Laura Miller

Laura Miller is a reporter and editor for Steel Market Update. She has held a variety of positions within the steel industry since 2007, including reporting and editing for Steel Business Briefing/Platts, the Association for Iron and Steel Technology, and Kallanish Commodities, as well as marketing for what was then known as ThyssenKrupp Steel USA (now AM/NS Calvert). After a five-year hiatus working across other industries, she returned to steel in 2021 and has covered the flat rolled, tubular, and trade areas of the industry. She is a member of the Association of Women in the Metal Industries and a past-president of the AWMI Pittsburgh Chapter. She holds a BA in Latin American Studies from Edinboro University of Pennsylvania. She can be reached at laura@steelmarketupdate.com or 724-759-7869.