US flat steel pricing continued higher this week, driven by improved local flat steel demand, continued cuts in imports, and pricing for December and January scrap which continues to increase in value, market insiders told SteelOrbis this week.
During this week’s December monthly supply negotiations, December buy-cycle scrap settled on average $10-20/gt ($10-20/mt) higher across all US regions, with prime scrap grades traded at plus $10/gt, while shredded and other cut grades posted $20/gt increases. Following the December settlement, weekly scrap surveys for January trade expectations found most contacts feel pricing will settle sideways to as much as $50/gt higher next month.
The weekly SteelOrbis HRC spot price average finished the week up another $5/nt to on average $900/nt ($992/mt), or $45.00/cwt., up from $895/nt ($987/mt), or $44.75/cwt., one week earlier. Since bottoming at $800/nt during the week of September 22, SteelOrbis historical data shows HRC spot prices have risen nearly 12.5 percent.
“I’m hearing another $30/gt higher on January scrap and for finished steel products, pricing is expected to rise $40/ton for January. That’s the buzz right now!,” remarked one US East Coast flat steel insider. Another Midwest flat steel contact conceded, “Wow, those are big jumps you’re reporting for January scrap at $20-50/gt premiums,” he said. “I had a mill tell me today that they’re also expecting pricing to be up for January as well.” He continued, “And, while I don’t think pricing will achieve those kind of price levels, the market seems in the right place due to a shortage of supply, not demand.”
Recent flat steel import data remains extremely supportive for US flat steel market pricing, insiders continue to say. SteelOrbis data sourced from the State Statistics Institute finds that as of Aug. 2025, imports of hot rolled coils from Canada alone, totaled 42,992 metric tons (mt), off 48.4 percent from the 83,250 mt imported during the equivalent month in 2024. For Mexico, US imports of hot rolled coils fell 52.1 percent from the 7,377 mt reported for August 2024 to 3,535 mt registered for the equivalent August 2025 period. At current, imports remain off sharply from year-ago levels as a result of renewed Section 232 steel tariffs that were doubled to 50 percent on June 4 by US President Trump. While there has been talk, no significant actions have been noted recently between the US, Canada, and Mexico, though recent media reports indicate Trump may be inclined to let the current USMCA trade agreement expire in June 2026 if no actions are taken by then to renegotiate current steel tariffs between the three North American trade partners.
In the cold rolled markets, weekly prices rose on average another $40/ton to finish the week at $1,090/nt ($1,202/mt), or $54.50/cwt., up from $1,050/nt, ($1,157/mt), or $52.50/nt one week earlier. Given a $5/nt weekly increase in HRC pricing and a further $40/nt increase in reported CRC values, the current spread between HRC and CRC steel grades stands at $190/nt ($209/mt), or $9.50/cwt., up from $155/nt ($171/mt) or $7.75/cwt., seven days earlier.
In the coated steel markets, the SteelOrbis hot-dipped galvanized base supply price without extras is estimated at $1,005/nt ($1,108/mt), or $50.25/cwt., up from $975/nt ($1,075/mt), or $48.75/cwt., a week ago.
In US pipe markets, despite further increases in weekly flat steel pricing, standard ERW X-52 pipe prices were flat at $64.75-$66.00/cwt., ($1,295-1,320/nt or $1,428-1,455/mt), following recent $20/nt ($22/mt) increases reported as a result of earlier flat steel weekly pricing gains.
On the mill side, US steel producer, Charlotte, North Carolina-based Nucor, increased its weekly Consumer Spot Price (CSP) for hot-rolled coils for a seventh straight week, up another $10/nt following a previous $5/nt weekly rise to $930/nt ($1,025/nt), or $46.50/cwt., up from $920/nt ($1,014/mt), or $46.00/cwt., seven days earlier. Prior to the recent weekly price increases from Nucor, the CSP was flat for eight weeks at $875/nt ($965/mt), or $43.75/cwt., while spot prices continued their upward trend.