US steel producer Nucor has raised its consumer spot price for hot-rolled coil (HRC) by $15 per short ton week on week, to $1,270 per short ton. According to a company letter to customers dated 26 October, as reported by GMK Center and cited by IndexBox, this is the second consecutive increase of that size and the fourteenth straight weekly rise in the company's spot price. The spot price for the California Steel Industries joint venture rose by $20 per short ton from the prior week, to $1,340 per short ton.
Nucor indicated that lead times for spot orders were unchanged at three to five weeks. Kallanish data cited in the report put US hot-rolled coil prices at $1,280-1,320 per short ton as of 23 October, and the latest producer announcements are seen as likely to support further gains. For comparison, US spot hot-rolled coil prices ranged from $825 to $865 per short ton in the same week of 2025.
The US flat steel market has continued to face a shortage of spot offers in October, pushing up prices for both hot-rolled and cold-rolled coil. By mid-month, the market expected limited spot availability and long lead times to lift hot-rolled coil prices at the start of next year. Demand is currently stable, and buyers are willing to pay at the upper end of the price range, although some market participants, pointing to similar past trends, believe the situation will eventually change.
GMK Center previously reported that domestic US steel prices had risen to their highest level in more than four years. The main driver was restricted imports following the introduction of trade tariffs by President Donald Trump, which supported local producers but significantly raised costs for American industrial companies. Source: IndexBox, citing GMK Center (Nucor customer letter dated 26 October 2026) and Kallanish.
Source: indexbox.io