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 fourth week today following earlier weekly posted price declines, 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 for a fourth week 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 $4/nt lower to on average $810/nt ($893/mt), or $40.50/cwt., off from $814/nt ($897/mt), or $40.70/cwt., amid an outlook for continued limited spot demand and an outlook for steady to lower October scrap pricing, market insiders told SteelOrbis.
Even though weekly spot market prices rose, 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.