Nucor cuts prices for hot rolled coils for the first time since the beginning of the year

For the first time since the beginning of the year, the US steel company Nucor has announced a reduction in the weekly spot price (CSP) for hot rolled coil (HRC). Offers for the current week dropped by $5/t to $930 per short tonne for all production facilities except California Steel Industries (CSI), where the price is $990/t.

The company reduced its offer after refraining from adjustments for two weeks. As a result, the highest price since the beginning of the year was reached on March 24 at $935/t ($995/t for CSI) and lasted until April 13. The overall increase in CSP at Nucor’s HRC since the beginning of the year is estimated at $180 per short ton.

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

According to SMU, spot prices for hot-rolled coils ranged from $840 to $970 per tonne as of April 8. According to Kallanish, domestic HRC prices in the US were in the range of $950-1000/t.

Developments continue to unfold around the import restrictions imposed by President Donald Trump, including reciprocal tariffs and preliminary announcements of tariffs targeting the steel, automotive, Canada, Mexico and China. Tariff pressure is expected to support price growth next week.

As GMK Center reported earlier, the US-based Cleveland-Cliffs recently announced the opening of its May order book for hot-rolled steel, setting its price at $975/tonne. At the end of February, the company opened the April order book for HRC at $900/t. Thus, in May, the supply increased by $75/t.

The manufacturer notes that the price increase is driven by increased activity from key industries, in particular those that use steel intensively. The report also emphasizes the impact of onshoring initiatives, a process that has intensified in recent years amid changes in the global supply chain and a desire to reduce dependence on imported products.