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 12th week today, rising $5/nt to $1,040/nt ($1,146/mt), or $52.00/cwt., up from $1,035/nt ($1,141/mt), or $51.75/cwt., FOB mill, one week earlier.
Nucor’s California Steel Industries (CSI) base price, also rose another $5/nt to $1,090/nt ($1,202/mt), or $54.50/cwt.,.on an FOB mill basis, up from $1,085/nt ($1,196/mt), or $54.75/cwt., one week prior.
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 April 3, up $10/nt from week-earlier levels at $1,035/nt., ($1,141/mt), or $51.75/cwt., up from week-earlier levels reported at $1,025/nt ($1,130/mt), or $51.25/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.
