Nucor, one of the leading U.S. steelmakers, has lowered its hot rolled coil (HRC) spot prices by $5 per short ton, marking the first price reduction since the beginning of the year.
Effective this week, Nucor’s HRC pricing dropped to $930/short ton across all production facilities except California Steel Industries (CSI), where pricing remains higher at $990/t. The move follows a two-week period without price changes and comes after prices peaked on March 24 at $935/t ($995/t for CSI) — the highest level so far in 2025.
Despite this recent dip, Nucor’s HRC prices are still up by $180/t since January, reflecting the ongoing strength of the domestic steel market. Current lead times for orders are estimated at 3–5 weeks.
Market data supports the shift: According to Steel Market Update (SMU), spot prices for hot-rolled coils ranged between $840 and $970/t as of April 8. Meanwhile, Kallanish reports domestic HRC prices in the U.S. ranging from $950 to $1,000/t.
The broader market context includes continued uncertainty around import restrictions first implemented under President Donald Trump, with ongoing tariff policies affecting steel, automotive, and trade with Canada, Mexico, and China. Analysts suggest tariff pressures could bolster prices again in the near term.
Meanwhile, Cleveland-Cliffs, another major U.S. steel producer, recently opened its May HRC order book at $975/t, up from $900/t in April, signaling a $75/t month-over-month increase. The company attributes the rise to stronger demand from steel-intensive industries and the growing impact of onshoring trends aimed at boosting domestic production and reducing reliance on imports.
VietnamSteel by Hoa Sen Group
