Nucor raises prices for hot-rolled coil for the second week in a row

American steel company Nucor has announced another increase in its weekly spot price (CSP) for hot-rolled coil (HRC). Offers for the week of November 3-9, 2025, rose by 0.6% or $5/t compared to the previous week, to $890 per short ton for all production facilities except California Steel Industries (CSI), where the price is $950/t (+0.5%).

The company has been raising prices for hot-rolled coil for the second week in a row after a long lull. In particular, last week’s increase was $10/t, the first in almost two months.

A few days earlier, another American producer, NLMK USA, also announced an additional increase in flat steel prices, which may indicate an attempt by the domestic market to stop the decline in prices and stimulate purchasing activity.

The increase in quotations is a signal for market stabilization and a resumption of purchasing activity by end consumers. At the same time, the market is waiting to see how the new pricing initiatives will affect the November negotiations on scrap prices, which traditionally set the tone for steel costs in the US.

“We have some interesting weeks ahead of us – we will see if these increases will affect the scrap negotiations,” commented a representative of one of the American steel mills.

Nucor reports that delivery times remain at 3-5 weeks.

According to the latest Kallanish estimate, spot prices for hot-rolled coil in the US range from $825-865/t, so Nucor’s adjustments may set a new benchmark for the domestic steel market in November.

It should be recalled that at the end of September and in October, the global hot-rolled coil market showed opposite trends in key regions. European prices rose under the influence of expected trade protection measures, while the US market remained stable amid weak demand. China, meanwhile, lowered its prices again due to excess inventories and uncertainty about the recovery of the industry.