CHARLOTTE, N.C., April 4, 2024 - Nucor Corporation (NYSE: NUE) announced today that it is introducing a weekly Nucor Consumer Spot Price (CSP) to provide its customers with consistent and transparent communications regarding the Company's hot-rolled coil spot pricing. Nucor will issue the first CSP on Monday, April 8, 2024.
"We are constantly looking for better ways to serve our customers, not only with quality products and services, but also with timely information that will help them make informed decisions for their businesses. The CSP will give our customers relevant and current information about Nucor's sheet business in a rapidly changing marketplace, which we believe will reduce their reliance on speculation and reduce risk," said Rex Query, Executive Vice President of Sheet Products for Nucor Corporation.
The CSP will be released every Monday, communicating Nucor's hot-rolled spot price for the week to Nucor customers. It will remain in effect until the next weekly publication. Nucor CSP pricing will be derived from both quantitative and qualitative data. Lead times for all spot orders will be offered between three and five weeks to assist customers with their planning.
"Over the last six decades, Nucor has continued to differentiate itself by innovating and finding new ways to provide solutions to our valued customers," said Query. "The CSP is yet another tool that will help our customers succeed over the long term and strengthen our status as one of America's most diversified and efficient industrial manufacturers."
About Nucor
Nucor and its affiliates are manufacturers of steel and steel products, with operating facilities in the United States, Canada and Mexico. Products produced include: carbon and alloy steel -- in bars, beams, sheet and plate; hollow structural section tubing; electrical conduit; steel racking; steel piling; steel joists and joist girders; steel deck; fabricated concrete reinforcing steel; cold finished steel; precision castings; steel fasteners; metal building systems; insulated metal panels; overhead doors; steel grating; wire and wire mesh; and utility structures. Nucor, through The David J. Joseph Company and its affiliates, also brokers ferrous and nonferrous metals, pig iron and hot briquetted iron/direct reduced iron; supplies ferro-alloys; and processes ferrous and nonferrous scrap. Nucor is North America's largest recycler.