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 today, following two weeks of flat pricing, the mill said in a weekly letter to customers. Prior to this week’s first rise in two weeks, the Nucor CSP had recorded a higher price each week for 23 straight weeks.
Following two previous weeks of steady pricing, the Nucor CSP rose $5/nt to $1,135/nt ($1,257/mt), or $56.75/cwt., up from $1,130/nt ($1,246/mt) or $56.50/cwt. on an FOB mill basis one week ago. Nucor’s California Steel Industries (CSI) base price, also rose $5/nt to $1,185/nt ($1,306/mt), or $59.25/cwt., up from $1,180/nt ($1,301/mt), or $59.00/cwt., on an FOB mill basis one week ago.
Flat steel insiders told SteelOrbis recent Nucor CSP price increases reflected continued strength in US finished steel markets as well as the effects of sharp reductions in global finished steel imports that happened as a result of ongoing Section 232 steel tariffs which reduced finished steel imports by more than 30 percent versus year-ago levels.
Recent elevated oil prices as a result of heightened geopolitical tensions in the Middle East also were said to be adding to the fundamentals driving rising prices across the entire finished steel value chain, insiders told SteelOrbis.
West Texas Intermediate crude oil traded July 13 at about $78/barrel, up from about $69/bbl one week earlier as a result of heightened war tensions in the Middle East. Brent crude oil sold at $83/bbl on July 13, up from about $70.50/bbl one week earlier.
As available supplies remain reduced by a lack of imports, and as US mills seek to manage annual maintenance requirements, insiders said US mills continue to produce at levels in excess of 79.7 percent of capacity, up from about 79.2 percent of capacity one week ago. And while production is up only slightly from a week earlier, US mills continue to produce at levels 3.9 percent higher than the equivalent week in 2025.
On the raw materials front, July scrap was expected to trade flat to June levels, with a potential for higher prime scrap prices possible as prime scrap supplies were said to be more limited than those available for various cut grades, scrap insiders told SteelOrbis. At last report, July scrap was largely sideways.
In weekly HRC spot markets, the SteelOrbis HRC price average price closed the week ended July 10 up $20/nt to $1,1568/nt ($1,268/mt), or $57.90/cwt., up from $1,138nt ($1,254/mt), or $56.90/cwt., on an FOB mill basis one week ago.
Since the end of October, when CSP prices started a steady weekly advance following an eight-week period of stability at $875/nt, the Nucor CSP has increased 29.71 percent.
