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12 Jun

US coil pricing weakens, following Nucor's capitulation

US pricing for hot and cold rolled steel coil has deteriorated again this week after Nucor lowered its published spot HRC price while service centres still refuse to restock, Kallanish hears from market participants. Domestically produced HRC prices have slid to a new range of $710-730/short ton, from $740-750/st last week. CRC prices are now $1,070-1,100/st from $1,090-1,120/st a week ago. On Monday, Nucor reset its weekly HRC spot price to $720/st, a drop of $6…
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