Nucor, one of the leading U.S. steel producers, has raised its hot-rolled coil (HRC) prices by $155 per ton since the beginning of the year. This price increase reflects strong demand, rising raw material costs, and market adjustments within the steel industry.
Key Drivers of the Price Hike:
- Market Demand: Continued demand from construction, automotive, and manufacturing sectors has supported higher pricing.
- Raw Material Costs: Rising costs for iron ore and scrap steel are pressuring steelmakers to adjust prices.
- Supply Chain Factors: Limited availability and global trade dynamics are influencing supply and price stability.
With Nucor setting a higher price benchmark, the market is watching whether other U.S. steelmakers will follow suit. If demand remains strong and supply stays constrained, further price increases could be on the horizon.
Vietnam Steel by Hoa Sen Group
