Nucor has increased the price of hot-rolled coils by $5/t

US steel producer Nucor has once again raised its spot price (CSP) for hot-rolled coil by $5 per short tonne compared with the previous week.

The new offer price currently stands at $1,130 per short tonne.

The CSP for the joint venture California Steel Industries (CSI) has also risen by $5 per short tonne to $1,180 per short tonne.

Delivery times remain unchanged at 3 to 5 weeks.

Nucor has been raising its spot price for hot-rolled coil every week since 27 January this year. The increases have ranged from $5 to $15 per short tonne. Nucor announced the most significant increase (of $15 per short tonne) on 2 March.

According to Kallanish’s estimates, as of 17 June, the price of HRC in the United States remained within the range of $1,095–1,105 per short tonne.

In the coming months, HRC prices in the US are likely to remain at high levels due to sufficient demand and seasonal plant shutdowns. At the same time, as import supply increases and market supply gradually improves, the pace of price rises may slow.

It should be noted that global prices for hot-rolled coils showed mixed trends in May. In the European market, average monthly offers fell by 2–4%, whilst in China and the US there was a slight increase of 3–4%.