Nucor’s Consumer Spot Price (CSP) -the posted price it charges for hot-rolled coils across all of its mills- was reported steady for a sixth week today, the mill said today in a letter to its customers.
This week’s CSP was reported steady at $875/nt ($965/mt), or $43.75/cwt., following a previous $10/nt increase from $865/nt ($954/mt) or $43.25/cwt., during the week of Aug. 25. Nucor’s California Steel Industries (SCI) base price was also steady again at $935/nt ($1,031/mt), or $46.75/cwt., following its previous $10/nt increase from $925/nt ($1,020/mt), or $46.25/cwt., during the same week.
In this past week’s spot market trade, the SteelOrbis spot average price for hot-rolled coils was assessed on an FOB mill basis on average $807.50/nt ($890/mt), or $40.375/cwt., up from $800/nt, ($882/mt) or $40/cwt., one week earlier. SteelOrbis weekly spot price data shows current HRC prices are the lowest since the week of Feb 10, when talk about tariffs caused prices to spike 13.3 percent from an average $37.50/nt the prior week on a delivered to customer basis, to $42.50/nt.
Given recent price action, SteelOrbis data indicates that HRC pricing remains at the lowest levels since spot prices moved sharply higher in the second and third week of February in reaction to strong scrap pricing and the announcements of the start of renewed Section 232 steel and aluminum import tariffs on Canada and Mexico on March 4.