Nucor raises the price of hot-rolled coil to $1,015 per ton

U.S. steel producer Nucor has again raised its spot consumer price (CSP) for hot-rolled coil (HRC) by $5 per short ton compared to the previous week. This was announced in a letter to customers dated March 16.

Thus, the new price stands at $1,015/short ton, marking the ninth consecutive price increase. The most significant increase occurred on March 2, when the company raised the CSP by $15/short ton.

The spot consumer price for Nucor’s joint venture on the West Coast — California Steel Industries (CSI) — also rose by $5, with the new price set at $1,065 per short ton.

Delivery terms remain unchanged, ranging from 3 to 5 weeks.

According to SMU, as of March 10, the average spot price for HRC in the U.S. market on FOB terms (east of the Rockies) stood at $1,005 per short ton, matching the previous week’s estimate.

As a reminder, two U.S. producers—Oregon Steel Mills and SSAB Americas — announced a $60 per short ton price increase for flat steel at the beginning of the month.

As reported by GMK Center, Baoshan Iron & Steel Co (Baosteel), a subsidiary of China Baowu Steel Group, raised prices for its main flat steel products, including hot-rolled coil (HRC), by 200 yuan per ton ($29/t) for domestic sales in April. The company’s decision is likely to influence the strategies of other major Asian producers.