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 an 11th week today, rising to $1,035/nt ($1,141/mt), or $51.75/cwt., FOB mill, up $10/nt from $1,025/nt ($1,130/mt), or $51.25/cwt., one week earlier.
Nucor’s California Steel Industries (CSI) base price, also rose another $10/nt this week on an FOB mill basis to $1,085/nt ($1,196/mt), or $54.75/cwt., up from $1,075/nt, ($1,185/mt), or $53.75/cwt., one week ago.
The Nucor CSP increase is the result of strong US scrap prices, low imports as a result of ongoing Section 232 steel tariffs, and continued reports of full order books and backlogs spurred by continued long lead times for new flat steel production at domestic mills, now estimated at 4-8 weeks, market analysts told SteelOrbis.
In weekly HRC spot markets, the SteelOrbis HRC price average price closed the week ended March 27 up $12/nt from week-earlier levels to $1,025/nt ($1,130/mt), or $51.25/cwt., up from $1,013/nt ($1,117/mt), or $50.65/cwt., on an FOB basis, one week earlier.
US spot supplies of finished steel have remained under pressure recently from a paucity of steel imports, the result of ongoing 50 percent Section 232 steel import tariffs, put in place by US President Trump in early June.
