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| Nucor HRC Price |
Nucor continues raising hot-rolled coil price in the U.S., reaching $930 per short ton for December 8-14. This marks the highest level since early May.
Price Trend and Regional Variations
The hot-rolled coil price increased by $10/t, or 1.1%, week-on-week. Meanwhile, Nucor’s West Coast joint venture, California Steel Industries, raised HRC prices to $980/t. As a result, the company maintains its seventh consecutive week of price hikes. SMU reports the East of Rockies average HRC price at $895/t FOB, reflecting a $25/t gain from the prior week.
Global Market Context and Supply Dynamics
The global HRC market shows mixed trends. In the U.S. and EU, prices rose amid stable demand and limited supply. In contrast, China experienced seasonal price pressure and export competition. Kallanish data estimates U.S. HRC offers at $880-910/t, up from $880-900/t previously. Therefore, tight domestic supply continues to support Nucor’s ongoing price increases.
ScrapInsight Commentary
Sustained U.S. HRC price growth highlights ongoing supply constraints and steady demand. These trends may pressure downstream steelmakers and scrap markets, emphasizing efficient recycling and secondary steel usage. Investors should monitor further weekly CSP updates to gauge market stability.
