US hot rolled coil (HRC) prices have seen a modest increase due to a rise in demand, with steelmaker Nucor raising its weekly spot price by $15 per tonne to $690 per short tonne. This marks the second consecutive week of price increases, following a $25 per tonne rise the previous week. In total, HRC prices have increased by $40 per tonne since late July, signaling a potential market recovery after a significant decline earlier in the year.
In contrast, cold rolled coil (CRC) prices remain stable amid the fluctuating HRC market. The overall sentiment suggests that while HRC prices are strengthening, CRC may hold steady as market participants await further developments. The recent uptick in HRC pricing reflects improved demand dynamics, although challenges such as rising production costs continue to impact the steel industry.
