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 the second time in two weeks today, posting a $5/nt ($5/mt) rise to bring the weekly CSP price to $965/nt ($1,064/nt), or $48.25/cwt.
This week’s Nucor CSP price increase comes at a time when US finished steel prices remain supported by solid though unremarkable US finished steel demand and amid steady increases in ferrous scrap prices, which are leading to increased production costs for finished steel. Steel market insiders said US spot supplies of finished steel remain under pressure 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.
In weekly HRC markets, the weekly SteelOrbis HRC spot price average price closed the week ended Jan. 23, $12/nt higher on average to $950/nt ($1,047/mt), or $47.50/cwt., up from $938/nt ($1,034/mt), or $46.90/cwt., seven days earlier.
And, while insiders said it still remains early to make a robust forecast for February scrap, insiders told SteelOrbis they think February busheling scrap, a closely-monitored flat steel benchmark grade, may settle sideways to potentially $20/gt higher than equivalent January material. During December and January scrap negotiations, ferrous scrap pricing in the US Midwest and Northeast markets increased a total of $40-50/gt as scrap supply on hand tightened as a result of weather-related supply restrictions and increased scrap buying from US mills as producing units emerged from annual maintenance programs.
According to final US Census Bureau data released January 8 by the American Iron and Steel Institute (AISI), US imports remains reduced versus year-ago levels, though have begun rising recently on a month-to-month basis. Most recent available data for October shows the US imported a total of 1,730,000 net tons (nt) of steel for the month, including 1,335,000 nt of finished steel, up 11 percent and 12.9 percent, respectively, versus September, 2025. On a yearly basis though, total steel and finished steel imports remain off by 10.7 percent and 14 percent, respectively. The data also indicates that from November 2024 to October 2025, total and finished steel imports were off 8.9 percent and 10.7 percent, respectively, versus the previous 12-month period, AISI said in a press release.
Nucor’s California Steel Industries (CSI) base price, which also remained steady for nine consecutive weeks, also rose $5/gt this week following a $10/nt rise a week earlier, to $1,015/nt ($1,119/mt), or $50.75/nt, up from $1,010/nt ($1,113/mt) or $50.75/cwt., seven days ago.