Nucor cuts hot rolled coil prices for the second time in May

American steel company Nucor has announced a reduction in the weekly spot price (CSP) for hot rolled coil (HRC). Offers for the week of May 12-18, 2025 fell by 1.1% or $10/t – to $900 per short tonne for all production facilities except California Steel Industries (CSI), where the price is $960/t (-1%).

This is the second consecutive decline in weekly supply, and the third since the beginning of the year. At the same time, the company has been adjusting its supply at a double-digit pace for the second time in the last 6 months.

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 stagnation in May, Nucor’s HRC offers remain $150/mt higher than in early January.

The lead time for orders is estimated at 3-5 weeks.

According to SMU, as of May 6, 2025, HRC prices in the US hovered around $820-930/t. Delivery times in the general market are 3-6 weeks.

Market participants say that conditions in the US hot rolled coil market continue to soften. Nucor’s position reflects weak demand and sufficient supply of domestically produced products.

As a reminder, Cleveland-Cliffs last published its monthly hot-rolled steel price on April 11. The May order book was opened at $975/ton. At the end of February, the company opened the April order book for HRC at $900/t. Thus, the supply increased by $75/t in May.

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