Nucor has decreased its published price for hot rolled coil for the first time in 15 weeks, Kallanish discovers. 

On 14 October, Nucor’s Consumer Spot Price for HRC was lowered by $10/short ton to $720/st, according to the North Carolina-based steelmaker's weekly update. The published price had held steady for three weeks at $730/st.

US hot rolled coil consumers say that the new price is more reflective of how much they are paying in the spot market. 

“They adjusted prices because they were booking tons below that price anyway, and they were probably missing opportunities because buyers did not want to haggle with them,” says one HRC consumer.

Kallanish’s last weekly spot price assessment for domestically produced hot roll resulted in a range of $710-720/st (see Kallanish 9 October).