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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SOURCES
Nucor raises HRC price by $10/st – SteelRadar
World crude steel production decreased by 2.2% in February – SteelRadar
Iran conflict disrupts China’s Middle East steel exports – Reuters
Daily LNG freight rates jump over 40% amid Mideast strikes – Reuters
Crude steel production monthly – World Steel Association
American Iron and Steel Institute (AISI) weekly production reports – https://www.steel.org
World Steel Association monthly production data – https://worldsteel.org
U.S. Census Bureau steel import statistics – https://www.census.gov
U.S. Energy Information Administration LNG and electricity price data – https://www.eia.gov
Reuters commodities and metals coverage – https://www.reuters.com
Platts (S&P Global Commodity Insights) coking coal price assessments – https://www.spglobal.com/commodityinsights
Freightos Baltic Index ocean freight rate data – https://www.freightos.com
Bureau of Transportation Statistics rail and freight data – https://www.bts.gov
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