Steelmaker Nucor’s Consumer Spot Price (CSP) -the price it charges for hot-rolled coils across all of its mills- was unchanged for a second week at $650/st ($717/mt) FOB mill, following a $20/st decline announced on July 15, the steel producer said July 22 in a letter to its customers. The California Steel Industries (CSI) hot rolled coil price was also stable on the week at $720/st ($750/mt) FOB mill, following a $30/st decline during the equivalent week, the steelmaker said.
This week’s CSP and CSI indexes represent the lowest price offer for Nucor since the steel maker began releasing the weekly CSP and CSI indicators in early April.
Since releasing the CSP on April 8, the weekly price offer has declined nearly 22 percent, as US finished steel prices continued to flag amid a combination of low demand for finished steel goods such as automobiles and appliances and flagging steel scrap values. The CSI index to date has slipped more than 19 percent since its initial release on April 8.
Early indications for August scrap are heard at sideways for busheling and shredded to a bit higher for cut grades such as P&S and HMS I/II, market insiders told SteelOrbis today.
