Charlotte, North Carolina-based Nucor’s Consumer Spot Price (CSP) -the posted base price it charges for hot-rolled coils (HRC) across all of its regional mills- was reported higher for a 15th week today, rising yet another $10/nt to $1,065/nt ($1,174/mt), or $53.25/nt, up from $1,055/nt ($1,163//mt), or $52.75/cwt., FOB mill, one week earlier.
Nucor’s California Steel Industries (CSI) base price, also rose another $10/nt, to $1,115/nt, ($1,229/mt), or $55.75/cwt., up from $1,105/nt ($1,218/mt), or $55.25/cwt., on an FOB mill basis, one week earlier.
Insiders told SteelOrbis the Nucor CSP increases are primarily due to continued strength in US finished steel markets, the result of sharp reductions in global finished steel imports -the effect of ongoing Section 232 steel tariffs. As available supplies remain reduced by a lack of imports, insiders said US mills are now running near 80 percent of capacity to make up local supply shortfalls. And, as mill output now exceeds 80 percent of capacity -levels not seen since August 2024- high raw material prices in the form of domestic ferrous scrap also continue to be supportive of flat steel pricing.
In weekly HRC spot markets, the SteelOrbis HRC price average price closed the week ended April 24, up $3/nt to on average $1,053/nt ($1,161/mt), or $52.50/cwt., up from $1,050/nt ($1,157/mt), or $52.50/cwt., on an FOB basis, one week earlier.
US spot supplies of finished steel have remained under pressure recently from a continued paucity of steel imports, the result of ongoing 50 percent Section 232 steel import tariffs, put in place by US President Trump in June 2025.
Since the end of October, when CSP prices started a steady weekly advance following an eight-week period of stability at $875/nt, the Nucor CSP has increased nearly 22 percent.
