The American steel company Nucor has announced an increase in the weekly spot price (CSP) for hot rolled coil (HRC). Offers for the week of June 9-15, 2025 increased by 2.3% or $20/t compared to the previous week to $890 per short tonne for all production facilities, except California Steel Industries (CSI), where the price is $950/t (+3.3%).
Supply increased for the first time in 10 weeks. In May, prices recorded a decline of $60-70/tonne, while in April there was a predominant stabilization. Thus, the highest price since the beginning of the year was reached on March 24 – $935/t ($995/t for CSI) – and lasted until April 13. Despite the spring stagnation, Nucor’s HRC offers remain $140/mt higher than in early January.
The lead time for orders is estimated at 3-5 weeks.
According to SMU, last week, HRC prices in the US ranged from $870-910/mt FOB. Kallanish notes that hot-rolled coil was trading in the range of $870-900/t.
In May, the US HRC market experienced a sharp decline: the average price decreased by 7.1% m/m to $885/t ex-works. The key factor was a combination of weak final demand, lower scrap prices and sluggish business activity after the panic buying period in March-April. Despite some signals of a possible pickup in purchases in June, most market participants expect a further gradual decline in prices in the summer.
As GMK Center reported earlier, the US-based Cleveland-Cliffs announced the opening of its June order book for hot rolled coil (HRC) at a reduced price of $910/t. The new price is a significant reduction compared to the May offer of $975/t. Thus, the price of HRC fell by $65/t or almost 7%, reflecting changes in market conditions.
