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| Nucor HRC |
Nucor has raised its spot price for hot-rolled coils to $1,190 per metric tonne, driving upward momentum across the American flat steel market. The major American steel producer announced a $5 per short tonne increase in a customer letter dated September 8, following consecutive weekly hikes. Furthermore, the California Steel Industries joint venture adjusted its offer to $1,250 per metric tonne. Delivery lead times remain steady between three and five weeks across domestic mills.
Market Availability and Global Pricing Pressures
Limited spot and contract availability continues to plague domestic buyers as foreign price gaps attract rising import volumes. Steel Market Update reports that US hot-rolled coil averages stood at $1,205 per short tonne at the start of September. However, market experts note that despite attractive foreign arbitrage, domestic rolled steel prices will likely hold firm. In addition, ArcelorMittal has elevated European hot-rolled coil prices by €20 per tonne for November deliveries to offset rising energy costs.
ScrapInsight Commentary
Continuous price hikes by major producers highlight resilient flat steel demand despite tight domestic availability. Rising energy and raw material costs will likely keep global steel floors elevated through late 2026.
