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| Nucor HRC |
US Steel Market Responds to Rising Hot-Rolled Coil Prices
Nucor announced a price increase for hot-rolled coil (HRC) and thick plate, signaling sustained demand in the US market. The new HRC spot price reaches $915 per short ton, reflecting the fifth consecutive weekly rise. Meanwhile, California Steel Industries also raised HRC quotes, demonstrating broader market alignment and continued supply control.
The price hike follows a $60/t increase for thick plate in September. Analysts attribute this growth to steady domestic demand and limited supply. Meanwhile, delivery times remain within 3-5 weeks, supporting high plant utilization. As a result, Nucor strengthens its market position amid seasonal upward trends and stable industrial activity.
Global trends contrast with the US market. European HRC prices rose on expected trade protection measures, while Chinese prices fell due to inventory surplus and uncertain demand recovery. Therefore, US domestic steel prices remain robust despite international volatility, reflecting local supply-demand dynamics.
ScrapInsight Commentary
Nucor’s consecutive HRC price increases highlight strong domestic steel demand and controlled supply. Short-term US prices may continue rising, while global fluctuations create arbitrage opportunities. The trend emphasizes efficient raw material use and recycling in the steel sector.
