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 again for now a seventh week, increasing another $15/nt to $1,005/nt ($1,108/mt), or $50.25/cwt., up from $990/nt ($1,080/mt, or $49.00/cwt., one week ago.
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 nearly 6 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. Current SteelOrbis weekly surveys of scrap market professionals indicates March scrap is likely to settle flat to February levels.
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.
In weekly HRC spot markets, the weekly SteelOrbis HRC price average price closed the week ended Feb. 27 up another $11/nt to $1,001/nt, ($1,103/mt), or $50.05/cwt., up from.$990/nt ($1,091mt) or $49.50/cwt., one week earlier.
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 imports 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 is an important indicator of actual steel imports.
Nucor’s California Steel Industries (CSI) base price, also rose another $15/nt this week to $1,055/nt ($1,163/mt), or $52.75/cwt., up from $1,040/nt ($1,146/mt), or $52.00/cwt., one week earlier, Nucor said in its weekly letter to customers.
