Nucor Sheet Mill Group today joined Cleveland Cliffs in announcing a new, minimum base price for US domestic hot rolled coil. Per the announcement, their new HRC minimum base prices has been set at $55 cwt. ($1,213/mt or $1,100/nt), FOB mill, effective with all new orders.
As of earlier this week, US HRC prices were trending at $45-$47 cwt. ($992-$1,036/mt or $900-$940/nt), FOB mill, although prices for small-tonnage transactions are believed to be taking place up to $2.00 cwt. ($44/mt or $40/nt) above that range.