From March 3, the benchmark price for hot-rolled coil is $900 per short ton.

US steelmaker Nucor has announced another increase in its hot rolled coil (HRC) spot price (CSP). Effective March 3, the spot price is $900 per short ton for all producers except California Steel Industries (CSI), which has reached $960 per ton.

This is the sixth consecutive price increase this year. The last price adjustment was at the end of last month, when Nucor set the HRC benchmark price at $860 per ton on February 24.

The move aligns Nucor's strategy with that of Cleveland-Cliffs, which previously issued a monthly update to its customers, raising the minimum price for HRC to $900 per short ton for the April contract.

The synchronization of prices among major producers reflects the industry's joint response to market conditions, demand recovery and possible supply chain adjustments after the US announced a 25% tariff on steel and aluminum. At the same time, this may mean huge cost pressures for downstream industries.

Since the beginning of 2025, hot-rolled coil prices have risen in most markets. In North America in particular, quotations rose by 3% - to $685/ton as of February 10. In January, the market showed volatile dynamics, which was affected both by macroeconomic factors and the trade policy of the new US government. In February, the situation improved slightly. The market is expected to become more active in the second quarter of 2025.