Nucor has raised the price of hot-rolled coils to $1,125 per tonne

US steel producer Nucor has once again raised its spot price (CSP) for hot-rolled coil by $10 per short tonne compared to the previous week. This is stated in the company’s letter to customers dated 15 June.

The new offer price currently stands at $1,125/t.

The CSP for the joint venture California Steel Industries (CSI) has also risen by $10 per short tonne to $1,175/t.

Delivery times remain unchanged – 3 to 5 weeks.

Nucor has been raising the spot price for hot-rolled coil every week since 27 January this year. The increase ranges from $5 to $15 per short tonne. Nucor announced the most significant increase (by $15/tonne) on 2 March.

According to SMU, the average price for hot-rolled coil in the US stood at $1,115 per short tonne as of 9 June.

According to Kallanish, as of 12 June, the HRC price in the United States remained in the range of $1,095–1,105/tonne.

It should be noted that global prices for hot-rolled coil showed mixed trends in May. In the European market, average monthly offers fell by 2–4%, whilst in China and the US there was a slight increase of 3–4%.

In the coming months, HRC prices in the United States are likely to remain at a high level due to sufficient demand and seasonal plant downtime. At the same time, with an increase in import supply and a gradual improvement in market supply, the pace of price rises may slow down.