US steel producer Nucor has raised its hot-rolled coil (HRC) spot price by $10 per short tonne week on week, to $1,280 per short tonne. According to a company letter to customers dated 2 November, as cited by GMK Center, the increase marks the fifteenth consecutive weekly rise in consumer spot pricing. The California Steel Industries joint venture also raised its spot price by $10 per short tonne week on week, bringing it to $1,350 per short tonne.
The company indicated that lead times for spot orders were left unchanged at three to five weeks. Market data from Kallanish put domestic US hot-rolled coil prices at $1,300 to $1,340 per short tonne as of 30 October. In the comparable week of 2025, spot prices for hot-rolled coils ranged between $825 and $865 per short tonne.
A recent SMU survey found that flat steel market participants increasingly expect hot-rolled coil prices to continue climbing through the end of the year and beyond. At the same time, foreign suppliers are offering competitive prices, and many service centers continue to buy imported products to secure additional tonnage. In October, the United States faced a shortage of spot offers for flat steel, a factor that pushed up prices for hot-rolled and cold-rolled coils.
Domestic steel prices in the country had earlier climbed to their highest level in more than four years, with import restrictions following the introduction of trade tariffs by President Donald Trump cited as the main driver. Sources: IndexBox, citing GMK Center (Nucor customer letter dated 2 November 2026), Kallanish (market data as of 30 October 2026) and SMU (flat steel market survey).
Source: indexbox.io