Charlotte, North Carolina-based Nucor’s Consumer Spot Price (CSP) -the posted price it charges for hot-rolled coils (HRC) across all of its regional mills- was reported higher for a sixth straight week, increasing another $10/nt to $990/nt ($1,091/mt, or $49.50/cwt.
Market insiders said a combination of solid demand for flat steel as imports remain constrained, and current high scrap prices are behind the continued gains in the Nucor CSP, which has increased more than 3 percent in value since the beginning of 2026.
Between December and February, Midwest Ohio Valley shredded scrap, most often quoted as a primary input in US flat steel production, has increased from on average $385-390/gt, ($390-395/mt), to $445-450/gt ($452-457/mt), a rise of more than 15 percent. March scrap at last report was discussed sideways to potentially down, the first such potential lower call since December.
Steel market insiders continue to tell SteelOrbis US spot supplies of finished steel have also remained under pressure recently from a lack of steel imports-the result of ongoing 50 percent Section 232 steel import tariffs- put in place by US President Trump in early June. Recent rulings by the US Supreme Court on tariffs will not affect steel and aluminum tariffs which will remain in place at current levels.
In weekly HRC spot markets, the weekly SteelOrbis HRC price average price closed the week ended Feb. 13 up another $10/nt to $990/nt, ($1,091/mt), or $49.50/cwt., up from .$980/nt, $1,080/mt) or $49/cwt., a week before.
On the import side, industry preliminary data continues to indicate that imports will show sharply reduced levels when actual monthly data is released. And, while actual flat steel import data for February won’t be available for several months, initial flat steel import license requests from the Washington, DC.-based International Trade Administration’s (ITA) US Steel Import Monitor, indicate flat steel import licenses requests fell 67.4 percent for February to about 1,400 metric tons (mt), from the 4,300 mt recorded during January. Most steel experts agree steel import license data, ahead of actual data, is a key import indicator in the absence of actual steel imports.
Nucor’s California Steel Industries (CSI) base price, also rose another $10/nt this week to $1,040/nt ($1,146/mt), or $52.00/cwt., up from $1,030/nt ($1,135/mt), or $51.50/cwt., Nucor said in its weekly letter to customers.