Nucor’s Consumer Spot Price (CSP) -the posted price it charges for hot-rolled coils across all of its mills- was reported higher following three weeks of previous weekly declines.
This week’s CSP is reported $10/nt higher at $875/nt ($965/mt), or $43.75/cwt., up from $865/nt ($954/mt) or $43.25/cwt., one week ago. Nucor’s California Steel Industries (SCI) base price also rose $10/nt to $935/nt ($1,031/mt), or 46.75/cwt., up from $925//nt ($1,020/mt), or $46.25/cwt.
In this past week’s spot market trade, the SteelOrbis spot average price for hot-rolled coils was assessed $10/nt less on average $825/nt ($909/mt), or $41.25/cwt., off from $835/nt ($920/mt) or $41.75/cwt., seven days earlier.
Preceding this week’s Nucor CSP and CSI price increases, SteelOrbis data indicates that spot market HRC pricing declined to 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 from the US Trump administration of the start of renewed Section 232 steel and aluminum import tariffs on Canada and Mexico on March 4.