Key Takeaways

• Nucor’s Consumer Spot Price for hot rolled coil has climbed steadily with Nucor now announcing a $10/ton increase effective March 23rd 2026
• A convergence of 50% Section 232 tariffs, surging data center construction demand, compressed import competition, and scheduled mill maintenance outages has created the most supportive domestic pricing environment for flat-rolled steel since early 2024.
• Service centers, original equipment manufacturers, and fabricators face a critical decision: secure coverage at elevated prices to manage lead-time risk, or hold back and gamble on a correction that analysts suggest may not arrive until import economics meaningfully shift.

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