Charlotte, North Carolina-based Nucor’s Consumer Spot Price (CSP) -the posted price it charges for hot-rolled coils across all of its mills- was reported flat for a fourth week earlier today, amid continued scant spot trade, even as January scrap prices moved higher during recent monthly supply negotiations that began late last week, market insiders told SteelOrbis.
Prior to the most recent several weeks of price stability, the Nucor CSP price increased eight straight times as insiders reported slight improvements in domestic finished steel demand and continued tight mill inventories as a result of sharp reductions in US flat steel imports. As domestic mills increase their productive output to make up for the continued lack of finished steel imports, insiders say lead times continue lengthened with reports continuing that mill order books are strong heading through the new month.
This week’s CSP was reported steady at $950/nt ($1,047/mt), or $47.50/cwt., up from $940/nt ($1,036/mt), or $47.00/cwt., four weeks earlier.
Recent import data from the US Commerce Department continues to paint a picture showing a continuation of tight US steel imports, constricted by a continuation of 50 percent Section 232 steel tariffs.
Based on the most recent steel import permit applications data from the US Commerce Department’s, Steel import Monitoring and Analysis (SIMA) group, import applications for the month of November totaled 1,667,000 net tons (nt), 4.5 percent higher than the 1,607,000 nt recorded in October though 3 percent less than the actual final import totals of 1,335,000 nt in October. For the first 11 months of 2025, including November SIMA permits and October final imports, total and finished steel imports were 23,704,000 nt and 17,550,000 nt, down 11.3 percent and 15.1 percent, respectively, from the same period in 2024. The estimated finished steel import market share for November was 14 percent and 19 percent year to date, AISI said.
And, even as Nucor says in its customer letter that it can fill CSP spot HRC orders in 3-5 weeks, some insiders reported to SteelOrbis that lead times for new flat steel rolling from other mills and suppliers have lengthened to between eight and twelve weeks, with discussion of new flat rolling schedules heard for early March.
Market insiders continue to point to higher steel material input costs in the form of scrap, as being highly supportive to finished steel prices. This week, January ferrous scrap is forecast to settle another $20-30/gt ($20-31/mt) higher than December scrap settles, which were sideways to $20/gt higher during earlier buy-cycle trade. Flat steel benchmark US Midwest busheling scrap is likely to settle $20/gt higher at $415-425/gt, or $422-432/mt.
Nucor’s California Steel Industries (CSI) base price, which also remained steady for nine consecutive weeks, remains unchanged on the week at $1,000/nt ($1,102/mt) or $50.00/cwt., up from $990/nt ($1,091/mt), or $49.50/cwt., several weeks earlier.
In spot market trade following the New Years holiday, the SteelOrbis spot average price for hot-rolled coils on an FOB mill basis, rose another $30/nt ($33/mt) to $940/nt ($1,036/mt), or $47.00/cwt., up from $910/nt., ($1,003/mt), or $45.50/cwt., before the US holidays.
