American steelmaker Nucor has reduced its hot-rolled coil (HRC) spot prices for the fourth consecutive time, bringing the price down to $870 per short ton for all facilities except California Steel Industries (CSI), where it stands at $920/t. This latest adjustment, effective for the week of May 26–June 1, reflects a decrease of $10/t compared to the previous week.
Since early May, Nucor has lowered HRC prices by a total of $60/t, marking the fifth reduction since the start of 2025. The highest price recorded this year was $935/t ($995/t for CSI) on March 24, remaining unchanged until April 13. Despite recent declines, Nucor's current pricing remains $120/t above January levels.
Lead times for orders are estimated at 3–5 weeks. Meanwhile, as of May 20, HRC prices in the U.S. hovered at $845/t FOB, consistent with prior offers. Marketwide lead times average 4.6 weeks.
Additionally, Cleveland-Cliffs has opened its June order book with a new HRC price of $910/t, reflecting a sharp $65/t drop from May’s $975/t rate. This nearly 7% decrease highlights shifting market conditions.
