The American steel producer Nucor has once again raised the spot price (CSP) for hot-rolled coil by $15 per short tonne compared with the previous week. This is stated in the company’s letter to customers dated 9 November.
The new bid price stands at $1,295 per short tonne. At the same time, the CSP for the California Steel Industries (CSI) joint venture also rose by $15 per short tonne compared with the previous week, to $1,365/t.
The company has been gradually raising HRC prices for the 17th consecutive week. Lead times remain unchanged at three to five weeks.
According to Kallanish, as of 6 November, hot-rolled coil prices in the US reached $1,340–1,400 per short tonne. In the same week last year, spot HRC prices in the country stood at $825–865 per short tonne. Lead times are getting longer, prices are rising, and the situation on the spot market is becoming more complicated.
As a reminder, in October the US saw a shortage of spot offers of flat steel, which pushed up prices for hot-rolled and cold-rolled coil.
As GMK Center reported earlier, in October domestic steel prices in the US rose to their highest level in more than four years. The main driver of the increase was the restriction of imports following the introduction of trade tariffs by President Donald Trump. The price of hot-rolled coil, the key benchmark of the US market, rose by 52% over the past year and reached $1,255 per short tonne.
