Nucor raises prices for hot-rolled steel by $5/t

The American steel company Nucor has announced another increase in the spot price (CSP) for hot rolled coil (HRC). Starting from March 24, 2025, the base price of HRC will be $935 per short tonne for all production facilities except California Steel Industries (CSI), where the price has reached $995 per tonne.

This is the ninth price increase since the beginning of the year (+$175/mt). Compared to the previous week, basic offers increased by $5/t.

According to Kallanish, as of March 21, 2025, hot rolled coil prices in North America were $950-1000 per short tonne, while at the end of February they were $800-900 per tonne.

The US steel market was also marked by a rise in prices for heavy plates. In particular, SSAB Americas is seeking to raise prices for its products by at least $60 per short tonne for May contracts.

Nucor Bar Group has increased prices for most structural and construction steel by $40 per tonne effective March 14, 2025. Gerdau Long Steel in North America has raised prices for most types of long products by $40 per short ton.

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 reports on NLMK USA’s pricing policy. The company announced a price for hot-rolled steel at $900 per short tonne and $1100 per tonne for coated cold-rolled steel.