American steelmaker Nucor has announced another increase in the spot price (CSP) for hot rolled coil (HRC). Starting from February 17, 2025, the base price will be $820 per short tonne for all of the company’s production facilities, except for California Steel Industries (CSI), where the quotes reached $880 per tonne. This is the fourth consecutive increase since the beginning of the year.
The company also said that spot orders will have a lead time of 3 to 5 weeks.
In addition, Nucor announced a $70 per short tonne increase in wire rod prices, effective February 14. This decision applies to all new orders placed after that date.
At the same time, the company assured customers that previously confirmed orders will be shipped at the old price if they are delivered before February 28, 2025.
“We will continue to monitor the market situation and respond accordingly to ensure that our products are competitively priced,” Nucor said in a statement.
The previous increase in the price of wire rod by $30 per tonne was made on January 14. It was due to an increase in prices for shredded automotive scrap, which rose by $20 per gross tonne from $360 on December 10 to $380 on January 10.
According to an industry representative, Nucor’s decision to raise prices by more than the cost of ferrous scrap is expected as supply on the market remains limited.
As GMK Center reported earlier, hot-rolled coil prices have increased in most markets since the beginning of 2025. In particular, in North America, supply 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.
