Steelmaker Nucor left unchanged its weekly Consumer Spot Price (CSP) for the week of July 8, at $670/st ($739/mt) FOB mill, the steel maker said today to a letter to all of its customers. The unchanged Nucor CSP comes as the July scrap market across the US prepares to settle for the month no later than Tuesday, July 9.
This differs from the week of July 1, when the steel maker trimmed its CSP by $10/st ($11/mt) to $670/st ($739/mt), FOB mill. This week’s CSP represents a repeat of the lowest price offer for Nucor since the steel maker began releasing the weekly CSP indicator in early April.
One of Nucor’s key competitors, Cleveland Cliffs, announced on June 25 that it had officially opened its order book for August hot-rolled coil (HRC) and established a base price of $720/st ($794/mt) FOB mill. This marks a significant decrease from their previous price guidance of $800/st ($882/mt) FOB mill for July, signifying a drop of $80/st ($88/mt), the steelmaker said.