 |
| American steel price |
Nucor and Gerdau Raise Rebar and HRC Prices
American steel price increase continues as Nucor and Gerdau adjust rolled steel offers. Nucor raised rebar prices by $30 per short ton for orders after November 7, while confirmed orders shipped before November 21 remain at old rates. Gerdau implemented a similar increase, maintaining confirmed order protection if shipped by November 23. As a result, market participants anticipate tighter supply and higher procurement costs.
US Hot-Rolled Coil Market Trends
Meanwhile, Nucor lifted weekly spot prices for hot-rolled coil to $895 per short ton, reaching $950 at California Steel Industries. Previously, the company increased prices twice by $10 and $5/t. The US HRC range is $825-865/t, with 3-5 week delivery times. In contrast, European HRC prices rose due to trade protection, while Chinese prices declined amid excess inventories and weak recovery signals.
Market Implications and Outlook
Therefore, American steel price increase reflects both domestic supply management and global market divergence. Extended stability in US demand contrasts with volatile international prices. As a result, steelmakers and traders must closely monitor regional supply-demand shifts, protectionist policies, and cost pressures for planning procurement and investment strategies.
ScrapInsight Commentary
US steel producers strategically raised prices to offset weak domestic demand and rising costs. This trend may stabilize margins but challenges buyers amid global price divergence. Protectionist policies and inventory shifts will shape short-term market movements.
