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| Nucor HRC |
US Steel Producers Adjust Prices Amid November Demand
Nucor raised its hot-rolled coil (HRC) prices for the second consecutive week. The company increased weekly spot prices by 0.6%, reaching $890 per short ton, while California Steel Industries (CSI) set $950/t. This follows last week’s $10/t hike, marking the first increase in almost two months. As a result, market participants anticipate restocking activity from steel consumers in November.
Meanwhile, NLMK USA also raised flat steel prices, suggesting US producers aim to curb declining prices. Analysts note that these increases signal a stabilization of domestic steel pricing. Consequently, buyers and scrap traders closely monitor potential impacts on scrap negotiations, traditionally influencing US steel cost structures.
In contrast, global hot-rolled coil markets diverge. European prices rose due to anticipated trade protection, whereas Chinese HRC declined amid oversupply and demand uncertainty. Therefore, Nucor’s adjustments may set a domestic benchmark and influence scrap price settlements over the coming weeks.
ScrapInsight Commentary
The consecutive Nucor hot-rolled coil price increase reflects cautious optimism for US steel demand. This may support higher scrap prices and prompt restocking by end-users. Regulatory and trade factors will continue to shape November market dynamics and circular economy implications.
