Nucor has raised the price of hot-rolled coil to $1,025 per ton

U.S. steel producer Nucor has again raised its spot consumer price (CSP) for hot-rolled coil (HRC) by $10 per short ton compared to the previous week. This was announced in a letter the company sent to its customers on March 23.

Thus, the new offer price stands at $1,025/short ton. This marks the tenth consecutive price increase announcement; the company reported the most significant increase — $15/short ton — on March 2.

The spot consumer price for Nucor’s joint venture on the West Coast — California Steel Industries (CSI) — has also increased by $10, with the new price set at $1,075 per short ton.

Delivery times remain at 3–5 weeks.

According to SMU, as of March 17, the average spot price for HRC in the U.S. market on FOB (east of the Rockies) terms was $1,015 per short ton, which is $10/ton higher than the previous week.

Kallanish’s estimate for last week (as of March 19) is $1,000–1,020 per short ton, the highest level in two years.

As a reminder, two U.S. producers — Oregon Steel Mills and SSAB Americas — announced at the beginning of the month a $60 per short ton price increase for flat steel.

As reported by GMK Center, the Japanese steelmaker Tokyo Steel raised prices for its steel products for April sales due to rising raw material costs. Specifically, prices for hot-rolled coils (1.7–22 mm) rose by 7,000 yen per ton ($44/t) compared to the previous month.