Weekly US flat steel prices continued their recent upward trend, with hot-rolled coils finishing the week another $8.00/nt higher amid a continuation of rising monthly scrap values, even as early data on likely flat steel imports shows levels slashed due to the effects of ongoing Section 232 steel tariffs, market insiders told SteelOrbis.
While actual flat steel imports for February won’t be available for several months, initial flat steel import license data from the Washington, DC.-based International Trade Administration’s (ITA) US Steel Import Monitor shows flat steel import license requests into the US fell a substantial 67.4 percent to about 1,400 metric tons (mt), from 4,300 mt recorded during January.
Scrap insiders said recent cold weather reduced inflows into local supply yards, contributing to surging scrap values, now higher for a third straight month. The outlook for March was called sideways today (Feb. 13), though weather for the balance of February will largely determine price direction and whether scrap ultimately continues up for a fourth month.
Insiders told SteelOrbis a combination of reduced finished steel imports as a result of renewed Section 232 steel tariffs earlier this year, steadily rising US steel plant capacity utilization rates, along with steady increases in scrap pricing which continues to boost mills’ steel production costs, continue to be cited as key reasons for continued flat steel price increases.
“There’s a lot of talk about sideways scrap for March,” noted one Midwest scrap insider. “Flows into yards are still slow, though they are a bit better.”
The weekly SteelOrbis HRC spot price average price closed the week at $980/nt ($1,080/mt) or $49.00/cwt., up from week-earlier levels that saw continued $12/nt gains, finishing seven days ago at $972/nt ($1,071/mt), or $48.60/cwt.
Since the beginning of 2026, when weekly SteelOrbis HRC pricing averaged $910/nt or $45.50/cwt., pricing is up nearly 8 percent, while one year comparisons show HRC spot prices have surged 40 percent from on average $700/nt ($772/mt), or $35.00/cwt.
In the cold rolled markets, current spot pricing saw another notable $32/nt increase to on average $1,132/nt ($1,248/mt), or $56.60/cwt., up from $1,100/nt ($1,213/mt) or $55.00/cwt., seven days earlier. Insiders told SteelOrbis continued rising steel production costs as a result of continued strength in local scrap markets with limited levels of steel imports continues to urge US mills to increase weekly production levels to keep up with local demand.
Based on another $8/nt increase for HRC pricing and a sizable $32/nt rise in the CRC weekly assessment, the current spread between the two key steel grades rose for the first time in three weeks, settling Feb. 13 at $152/nt or $7.60/cwt., up from a recent low of $128/nt, or $6.40/cwt., one week earlier.
In the coated steel markets, the SteelOrbis hot-dipped galvanized base supply prices are assessed $20/nt higher on average at $1,080/nt ($1,191/mt), or $54.00/cwt., up from $1,060/nt ($1,168/,mt), or $53.00/cwt., seven days ago.
On the domestic mill pricing side, Charlotte, North Carolina-based Nucor raised its Consumer Spot Price (CSP) for flat-rolled coils for a fourth time six weeks by another $5/nt to $975/nt ($1,075/mt), or $48.75/cwt., up from $970/nt ($1,069/mt) or $48.50/cwt., a week 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 11.4 percent. Nucor‘s California Steel Industries (CSI) price rose to $1,025/nt ($1,130/mt), or $51.25/cwt.
Based on a current conservative sideways call for March scrap, US Ohio Valley prime bushing scrap could settle near its $30/gt higher February settlement at $445-452/gt ($452-462/mt), while March shredded material could finish near its $30/gt higher February finish at $445-450/gt ($452-456/mt). In the cut grades, a sideways expectation for P&S scrap near $421-431/gt ($427-437/mt) is likely, following its $20/gt February gain. March HMS, which also rose $20/gt this month, was likely to settle near $385-405/gt ($390-410/mt), scrap insiders told SteelOrbis.
In the US Northeast, a current sideways March expectation could yield busheling scrap near $420-420/gt, following its $30/gt February gains. Shredded scrap, which also rose $30/gt, could finish near $395-405/gt ($400-410/mt), while P&S and HMS grades, which both saw $20/gt February price increases, could finish near $350-360/gt ($355-365/mt), and $365-380/gt ($370-385/mt), respectively.