Weekly flat steel pricing was steady to higher this week, following lower price direction a week earlier, amid renewed strength in February domestic scrap markets, which is likely to increase steel productions costs, market insiders said. Supply-related issues and strong scrap values continue to dominate conversations though spotty domestic demand for flat steel products continues to be an ongoing concern, market insiders told SteelOrbis.
The weekly SteelOrbis HRC spot price average price closed the week up $12/nt at on average $950/nt ($1,050/mt), or $47.00/cwt., up from $938/nt ($1,034/mt), or $46.90/cwt., one week prior. At last report, domestic busheling scrap for February delivery is discussed sideways to $20/gt higher than earlier January monthly scrap settles at $425-440/gt ($432-447/mt).
As finished and flat steel markets continued to rally recently, market insiders told SteelOrbis the combination of rising steel production costs as a result of continued strength in local scrap markets with falling levels of steel imports was prompting US mills to increase weekly production levels to keep up with local demand. More scrap might be needed next month, they said, though the combination is leading to longer lead times for available new flat steel rolling schedules that are said to be extending out to as much as 8-12 weeks.
According to final US Census Bureau data released January 8 by the American Iron and Steel Institute (AISI), US imports remains reduced versus year-ago levels, though have begun rising on a month-to-month basis. Most recent available data for October shows the US imported a total of 1,730,000 net tons (nt) of steel for the month, including 1,335,000 nt of finished steel, up 11 percent and 12.9 percent respectively versus September, 2025. On a yearly basis though, total and finished steel imports remain trimmed by 10.7 percent and 14 percent, respectively. The data also shows from November 2024 to October 2025, total and finished steel imports were down by 8.9 percent and 10.7 percent, respectively, versus the previous 12-month period, AISI said in an earlier press release.
In the cold rolled markets, spot pricing was assessed $10/gt higher from a week earlier at $1,100/nt ($1,213/mt) or $55.00/cwt., from $1,090/nt ($1,202/mt), or $54.50/cwt, the week prior. Based on a $10/nt increase for both HRC and CRC pricing, the current spread between the two key steel grades is assessed at $150/nt, or $7.50/cwt., off further from a recent low reported last week at $152/nt, or $7.60/cwt.
In the coated steel markets, the SteelOrbis hot-dipped galvanized base supply prices regained prior declines to finish the week at $1,060/nt ($1,168/,mt), or $53.00/cwt., up from $1,040/nt ($1,146/mt), or $52.00/cwt., seven days earlier.
This week, even as spot flat steel trade remained scant, Charlotte, North Carolina-based Nucor raised its Consumer Spot Price (CSP) for flat-rolled coils for the first time in four weeks by $10/nt to $960/nt ($1,058/mt), or $48.00/cwt., up from $950/nt ($1,047/mt), or $47.50/cwt., seven days earlier. Since the end of October, when CSP prices started their recent advance following an eight-week period of stability at $875/nt, the Nucor CSP has increased by nearly 9 percent.