Nucor Hot-Rolled Coil Price Reaches $1,005 per Ton After Seventh Increase

Nucor Hot-Rolled Coil Price Extends Uptrend in US Market

Nucor has raised its spot consumer price for hot-rolled coil to $1,005 per short ton. The company confirmed the increase in a March 2 letter to customers.

The latest move adds $15 per short ton compared to the previous week. Nucor announced six earlier increases before this adjustment. As a result, the Nucor hot-rolled coil price has climbed steadily since early January.

The company also lifted pricing at its West Coast joint venture, California Steel Industries. The new spot price there now stands at $1,055 per short ton. Meanwhile, order lead times remain between three and five weeks.

Market Benchmarks Track Nucor Hot-Rolled Coil Price Momentum

Independent market data confirms broader price strength across the United States. According to Steel Market Update, the average HRC price reached $980 per short ton on February 24. That figure reflects a $5 weekly gain on FOB terms east of the Rockies.

Meanwhile, Kallanish reported a price range of $975–990 per short ton as of February 26. The prior week’s range stood at $965–975 per short ton. Therefore, the Nucor hot-rolled coil price aligns closely with prevailing spot benchmarks.

Global Hot-Rolled Coil Trends Support US Price Gains

Global markets have reinforced the upward trend since January. European offers have increased by €25–45 per ton this year. US offers have gained about $50 per ton during the same period.

However, China has lagged behind the rally with only a $2 per ton increase. Analysts expect service center inventories and seasonal demand shifts to influence second-quarter pricing. Consequently, some market participants anticipate potential stabilization or correction later this year.

SuperMetalPrice Commentary:

The Nucor hot-rolled coil price surge signals firm mill discipline and improving sentiment. However, inventory levels and seasonal slowdowns could test this rally in the second quarter. If demand holds steady, US mills may defend current levels. Otherwise, buyers could regain leverage in upcoming negotiations.