Nucor has increased prices for hot rolled coils by $155/t since the beginning of the year

The US steel company Nucor has announced another increase in the spot price (CSP) for hot rolled coil (HRC). Starting from March 10, 2025, the base price of HRC will be $915 per short tonne for all production facilities except California Steel Industries (CSI), where the price has reached $975 per tonne.

This is the seventh price increase since the beginning of the year (+$155/tonne), which indicates a general trend towards strengthening the position of steel producers amid market changes. The previous price revision took place on March 3, when Nucor set the HRC base price at $900/mt (CSI – $960/mt).

In February, the US-based Cleveland-Cliffs announced the opening of the April contract period for hot rolled steel (HRC), setting its price at $900/t. Cliffs’ decision coincides with recent reports on NLMK USA’s pricing policy. The company aims to set the price for hot-rolled steel at $900 per short ton and $1100 per ton for coated cold-rolled steel.

As GMK Center reported earlier, hot-rolled coil prices have increased in most markets since the beginning of 2025. In particular, in North America, supply increased by 3% as of February 10 to $685/t. The market was characterized by unstable dynamics in January, driven by both macroeconomic factors and the trade policy of the new US administration. In February, the situation improved slightly. The market is expected to become more dynamic in the second quarter of 2025.