Key Takeaways

• Nucor raised its hot rolled coil base price by $10 per ton effective March 30, 2026, pushing the benchmark to $1,035 per ton – a move that signals deepening cost pressure rather than a surge in end-user demand.
• Persistent disruptions to global shipping lanes, surging raw material prices, and elevated war-risk insurance premiums are embedding new structural cost floors across the U.S. and international steel industries.
• U.S. flat rolled steel imports have collapsed by more than 50 percent year-over-year, temporarily insulating domestic mills from foreign competition, but analysts caution that price sustainability through mid-Q2 2026 remains uncertain.

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