Nucor raises prices for hot-rolled steel once again – up to $930/t

The US steel company Nucor has announced another increase in the spot price (CSP) for hot rolled coil (HRC). Starting from March 17, 2025, the base price of HRC will be $930 per short tonne for all production facilities except California Steel Industries (CSI), where the price has reached $990 per tonne.

This is the eighth price increase since the beginning of the year (+$170/mt). Compared to the previous week, basic offers increased by $15/t.

According to Kallanish, as of March 14, 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 rising prices for structural steel. In particular, Gerdau Long Steel in North America raised prices for most types of long products by $40 per short ton. All confirmed orders as of March 14 will be fulfilled at the old price if delivered by March 28.

“We will continue to monitor the market to ensure that Gerdau and our partners are on a competitive playing field and reserve the right to make adjustments to our pricing policy as needed,” Gerdau said in a letter.

Nucor Bar Group has raised prices for most structural and construction steel by $40 per tonne as of March 14, 2025.

In February, Cleveland-Cliffs announced the opening of the April contract period for hot rolled steel (HRC), setting its price at $900 per tonne. Cliffs’ decision coincides with recent reports on NLMK USA’s pricing policy. The company aims to set the price for hot-rolled steel at $900 per short ton and $1100 per ton for coated cold-rolled steel.