Steel Prices

Nucor drops HRC price to $720/ton

October 14, 2024

After holding its weekly spot price for hot-rolled (HR) coil steady for three weeks at $730 per short ton (st), Nucor lowered the price this week by $10/st.

The Charlotte, N.C.-based steelmaker notified customers in a letter on Monday that this week’s base consumer spot price (CSP) for HR coil will be $720/st.

This week’s price is flat compared to a month ago. The CSP has remained within a $50/st spread since late July.

SMU’s Oct. 8 check of the market revealed HR coil prices to be in the range of $660-730/st, with an average of $695/st. Nucor’s CSP has been at the high end of SMU’s price range since the week of Sept. 8. Subscribers can track prices for steel sheet and plate using the Interactive Pricing Tool on our website.

Nucor’s letter again noted that it will continue offering 3-5 weeks lead times for HR spot purchases.

SMU’s survey last week showed lead times of 3-7 weeks for HR coil in the wider market, with an average of 5.0 weeks.

West Coast CSP

Nucor also lowered the CSP for HR coil from its West Coast joint-venture subsidiary, California Steel Industries (CSI), by $10/st from last week to $780/st.

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.