The American steel producer Nucor has raised the spot price (CSP) for hot-rolled coils by $15 per short tonne compared with the previous week for the second time in a row. This is stated in the company’s letter to customers dated 26 October.
The new bid price stands at $1,270 per short tonne. At the same time, the CSP for the California Steel Industries (CSI) joint venture rose by $20 per short tonne compared with the previous week, to $1,340/t.
According to the company’s statement, lead times for spot orders remain unchanged at three to five weeks.
The new announcement marked Nucor’s fourteenth consecutive weekly CSP increase.
According to Kallanish, as of 23 October, HRC prices in the US stood at $1,280–1,320 per short tonne, and the latest producer announcements are likely to drive further growth. During the corresponding week in 2025, spot prices for hot-rolled coils in the country ranged from $825 to $865 per short tonne.
It will be recalled that in October the US continues to face a shortage of spot offers for flat steel, which is pushing up prices for hot-rolled and cold-rolled coils.
As early as mid-month, the market expected that limited spot availability and long lead times would lead to higher HRC prices at the beginning of next year. Demand currently remains stable, and buyers are willing to pay for flat steel at the upper end of the price range. However, some market participants, citing similar trends in the past, believe that the situation will eventually change.
As GMK Center reported earlier, domestic steel prices in the US rose to their highest level in more than four years. The main growth driver was the restriction of imports following the introduction of trade tariffs by President Donald Trump. This supported local producers but significantly increased costs for American industrial companies.
