Nucor raises prices for hot rolled coils for the fifth time since the beginning of the year

The American steel company Nucor has announced another increase in the spot price (CSP) for hot rolled coil (HRC). Starting from February 24, 2025, the base price of HRC will be $860 per short tonne for all production facilities except California Steel Industries (CSI), where the price has reached $920 per tonne.

This is the fifth price increase since the beginning of the year, which indicates a general trend towards strengthening the position of steel producers amid market changes. The previous price revision took place on February 17, when Nucor set the HRC base price at $820/t (CSI – $880/t).

The company also announced a $70/mt increase in wire rod prices starting February 14. This decision was justified by the increase in the cost of raw materials, including scrap.

In addition to Nucor, other producers are also revising their prices. For example, Cleveland-Cliffs has opened a contract period for April supplies of HRC at $900/t. At the same time, NLMK USA is seeking to fix the price of rolled steel at $900/t for hot-rolled and $1100/t for coated cold-rolled steel.

Experts note that steelmakers are responding quickly to the market situation, which remains unstable. In the coming weeks, market participants expect further changes in pricing depending on the level of demand and the dynamics of raw material prices.

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 per tonne. 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. […]