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 this week, posting another $5/nt ($5/mt) rise to bring the weekly CSP price to $975/nt ($1,075/mt) or $48.75/cwt., up from $970/nt ($1,069/nt), or $48.50/cwt., one week ago.
Insiders said continued strength in the CSP price is reflective of a combination of steady finished steel demand, more limited availability of finished supplies as a result of ongoing steel tariffs, and rising scrap prices as February scrap buy-cycle negotiations begin to conclude and settle for the month.
Steel market insiders told SteelOrbis US spot supplies of finished steel have 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. 6 up another $12/nt to $972/nt ($1,071/mt), or $48.60/cwt., up from $960/nt ($1,048/mt), or 48.00/cwt., one week earlier.
At last report, February scrap pricing was expected to settle at $20-40/gt premiums to previous January price levels, though markets remained in flux at press time. Recent cold weather and snow has further reduced already low on-hand scrap inventory at suppliers, while transport problems with roads and rivers continues to complicate prompt scrap delivery, insiders told SteelOrbis.
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.
On the import side, industry data continues to show imports at reduced levels versus one year ago.
Based on the US Commerce Department’s most recent Steel Import Monitoring and Analysis (SIMA) data, the American Iron and Steel Institute (AISI) reported steel import permit applications for the month of December totaled 1,670,000 net tons (nt), 0.8 percent less than the 1,684,000 permit tons recorded in November and 1.9 percent higher than the November final imports total of 1,639,000 nt. Import permit tonnage for finished steel in December was 1,206,000 nt, up 11.2 percent from the final imports total of 1,085,000 nt in November. Full year 2025 (including December SIMA permits), total and finished steel imports were 25,334,000 nt and 18,711,000 nt, down 12.2% and 16.8%, respectively, from the same period in 2024. The estimated finished steel import market share in December was 15 percent and is 18 percent for full year 2025.
Nucor’s California Steel Industries (CSI) base price, which also remained steady for nine consecutive weeks, also rose another $5/gt this week following another $5/nt rise a week earlier, to $1,025/nt ($1,130/mt), or $51.25/cwt., Nucor said in its weekly letter to customers.