Steel Mills

Nucor holds HR base price at $720/ton

October 21, 2024

Nucor is holding its hot-rolled (HR) coil consumer spot price (CSP) at $720 per short ton (st) this week, the Charlotte, N.C.-based steelmaker said in a letter to customers Monday morning.

The sideways move followed a $10/st cut last week. This week’s CSP is just $10/st higher than a month ago.

A CSP of $720/st puts Nucor’s HR price at the top of SMU’s range. Our Oct. 15 market check placed HR coil prices at $660-720/st, with an average of $690/st.

Nucor said it will offer lead times of 3-5 weeks, but customers should contact their district sales manager for availability.

West Coast CSP

Nucor also said it was keeping the CSP for HR coil from its West Coast joint-venture subsidiary, California Steel Industries (CSI), unchanged vs. last week at $780/st.

You can track this and other moves on SMU’s steel mill price announcement calendar on our website.

David Schollaert

David Schollaert is a senior analyst for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. Based in CRU’s Pittsburgh office, David can be reached at david@steelmarketupdate.com or 724-720-1008.