Nucor’s Consumer Spot Price (CSP) -the posted price it charges for hot-rolled coils across all of its mills- was reported lower for a third week today, following a previous period of price stability. This week’s lower CSP coincides with continued reports of drops in weekly flat steel spot pricing as demand slumps, market insiders told SteelOrbis.
This week’s CSP is reported at $865/nt ($954/mt) or $43.25/cwt., off from $875/nt ($965/mt), or $43.75/nt, one week earlier. Nucor’s California Steel Industries (SCI) base price also declined $10/nt to $925//nt ($1,020/mt), or $46.25/cwt.
The SteelOrbis spot average price for hot-rolled coils was assessed $5/nt less at on average $835/nt ($920/mt) or $41.75/cwt., off from an average of $840/nt ($926/mt), or $42.00/cwt., one week ago. While HRC pricing was noted as low as $820/nt ($904/mt), or $41.00/cwt., and as high as $940/nt ($$1,036/nt) or $47.00/cwt., insiders said pricing at those levels was not representative of the majority of trade. Weekly SteelOrbis daily pricing data reveals this past week’s HRC assessment was the lowest price on record since mid-June.
