Nucor and Gerdau Raise US Steel Prices

Nucor Corporation has continued its upward pricing trend by increasing its spot price for hot-rolled coil (HRC) by $10 per short tonne, bringing the new offer to $1,115 per tonne. This latest adjustment, effective June 8, 2026, reflects a consistent weekly price appreciation that began in late January. Simultaneously, Gerdau Long Steel North America has announced significant price hikes for structural products, signaling a broader tightening of the domestic steel market driven by supply constraints and rising input costs.

US Steel Market Tightens Further

Nucor’s latest price move extends to its California Steel Industries (CSI) joint venture, where prices have risen to $1,165 per tonne. Despite these consecutive price hikes, mill delivery times remain steady at 3 to 5 weeks. The US steel industry has faced a consistent trend of limited spot volume availability throughout the second quarter of 2026. These supply-side pressures, coupled with high raw material costs, have sustained the momentum for steel producers to push prices higher in an attempt to recover margins.

Gerdau Increases Structural Product Prices

Beyond the flat-rolled market, Gerdau Long Steel North America has implemented price increases ranging from $40 to $80 per short tonne for beams and other structural steel products. The most substantial increases target larger-diameter channels, angles, and strips. While the company offered a temporary price protection window for previously confirmed orders, the move underscores a widespread effort among US producers to pass on the costs associated with a constrained supply environment. These adjustments follow mixed global trends, where US and Chinese markets have largely diverged from the weaker, import-pressured demand observed in Europe.

Market Impact

○ Impacted Metals: Hot-rolled coil, Structural steel beams, Channels, Angles, Steel strips

○ Direction: Bullish

○ Time Horizon: Near-term

○ Affected Industries: Construction, Automotive, Infrastructure, Manufacturing

○ Related Price Reports: Stainless Steel Weekly Price Report

○ Watch Item: Monitor whether mill delivery lead times begin to extend beyond the current 3-5 week window, as this would indicate further supply tightening.

SuperMetalPrice Commentary:

The persistent weekly price increases from major US mills suggest that producers are successfully leveraging tight spot availability to maintain pricing power. While demand remains steady, buyers should be wary of how long the market can absorb these consistent hikes before downstream sectors—particularly construction and automotive—adjust their procurement strategies to mitigate margin erosion.