US steelmaker Nucor has announced its third price increase for Hot-Rolled Coil (HRC) products since the start of the year, underscoring the persistent volatility in the steel market. This latest adjustment is driven by escalating raw material costs—particularly for scrap steel and iron ore—which have significantly increased production expenses across the industry.
Nucor’s repeated price hikes are seen as a direct response to tight supply conditions and robust demand from both domestic and international markets. The move is expected to influence various sectors that rely on HRC, potentially leading to further cost increases throughout the supply chain.
Industry analysts suggest that Nucor’s decision not only signals ongoing market pressures but also hints at the possibility of additional adjustments as global economic uncertainties continue to impact pricing. Stakeholders and downstream industries are advised to closely monitor these developments, as further price revisions may be on the horizon.
Vietnam Steel by Hoa Sen Group
