Key Takeaways

• Nucor’s published hot rolled coil base price increased by $10 per ton for the week of April 27, extending a pattern of incremental but persistent upward mill pricing.
• U.S. raw steel production has risen for five consecutive weeks, with capacity utilization reaching 80.0% – the highest rate since August 2024
• Spot iron ore prices have climbed roughly 6.7% from their mid-February low, and shipping disruptions linked to Middle East conflict are adding pressure to delivered raw material costs, giving mills additional justification to hold or raise flat rolled offers.

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