US steelmaker Nucor has announced another increase in the spot price (CSP) for hot rolled coil (HRC). Starting March 3, it will be $900 per short tonne for all producers’ plants, except for California Steel Industries (CSI), where the price reached $960 per tonne.
This is the sixth consecutive increase since the beginning of this year. The previous price revision took place at the end of last month, when Nucor set the base HRC price at $860/t on February 24.
This move aligns Nucor’s strategy with Cleveland-Cliffs’ current strategy. Earlier, the latter published a monthly update for its customers, raising the minimum HRC price to $900 per short ton for April contracts.
The synchronization of prices among the major producers demonstrates the industry’s consolidated response to market conditions, recovering demand and possible supply chain adjustments due to the announced 25 percent tariffs on steel and aluminum. At the same time, this may mean significant cost pressure for the downstream industries.
As GMK Center reported earlier, hot-rolled coil prices have increased in most markets since the beginning of 2025. In particular, in North America, offers increased by 3% as of February 10 – to $685/t. The market was characterized by unstable dynamics in January, driven by both macroeconomic factors and the trade policy of the new US administration. In February, the situation improved slightly. The market is expected to become more dynamic in the second quarter of 2025.
