Nucor Increases Hot Rolled Coil Prices Amid Market Fluctuations
Nucor, a leading American steel producer, raised hot rolled coil (HRC) prices by 2.3% for the week of June 9-15, 2025. The price increased by $20 per short tonne to $890, except at California Steel Industries (CSI), where it rose 3.3% to $950 per tonne. This marks the first price hike after a 10-week period of mostly declining or stable prices.
In contrast to May’s $60-70/tonne price drop, Nucor’s offers have held $140 higher than January levels. Despite weak demand and falling scrap metal prices in recent months, this price increase suggests some optimism. The order lead time remains steady at three to five weeks, reflecting moderate market activity.
US Hot Rolled Coil Prices Show Volatility and Mixed Signals
While Nucor’s prices tick up, the broader US HRC market has shown volatility. Last week, prices ranged between $870 and $910 per tonne FOB, according to SMU and Kallanish reports. The market saw a sharp 7.1% drop in May, with average prices falling to $885 per tonne ex-works. This decline followed a panic buying surge in March-April, leaving downstream demand sluggish.
Meanwhile, Cleveland-Cliffs opened June order books with a reduced HRC price of $910 per tonne, down $65 from May’s offer. This reflects ongoing adjustments as suppliers react to lower business activity. Market watchers expect gradual price declines through summer despite recent price increases.
SuperMetalPrice Commentary:
Nucor’s price rise signals cautious optimism amid a still uncertain US steel market. The recent stabilization could mark a turning point after a spring slump. However, broader factors such as weak final demand and fluctuating scrap prices will likely cap significant price gains. Steel producers must balance supply tightness with realistic expectations of demand recovery. Close monitoring of trade policies and infrastructure spending remains crucial for future price direction.
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