U.S. steel producer Nucor has again raised its spot consumer price (CSP) for hot-rolled coil (HRC) by $10 per short ton compared to the previous week. This was announced in a letter from the company to its customers dated March 30.
The new price is $1,035 per short ton. The spot consumer price for Nucor’s West Coast joint venture, California Steel Industries (CSI), has also increased by $10, with the new price set at $1,085 per short ton.
This marks the second consecutive week that the company has raised prices in $10 increments. Nucor announced the most significant increase (by $15/ton) on March 2.
Order fulfillment times remain standard—3–5 weeks.
According to SMU, as of March 24, the average spot price for HRC in the U.S. market on FOB terms (east of the Rockies) was $1,020 per short ton, which is $5/ton higher than the previous week.
According to Kallanish, last week (March 20–27) prices rose to a new range of $1,010–1,020 per short ton. At the end of March, prices for hot-rolled steel in the U.S. gradually rose, following Nucor’s announcements and strong demand, with producers reporting high order volumes.
As a reminder, Nucor’s Bar Mill Group announced a price increase for structural steel last week. The increase amounted to $40–60 per short ton for channels, angles, and steel strip. The price increase applies to new orders received after March 25.
Courtesy : https://gmk.center/en
