Key Takeaways
✅ Nucor’s Record Price Momentum: Nucor has raised hot-rolled coil (HRC) prices for the sixth consecutive week, bringing the consumer spot price (CSP) to $920/ton effective December 1st, marking one of the most aggressive price escalation cycles in recent steel market history.
✅ Tariff-Driven Market Dynamics: The 50% US Section 232 tariffs on imported steel, combined with global trade uncertainties and reduced import competition, have created a protective environment allowing Nucor and other domestic producers to maintain pricing power and margin strength.
✅ EU and Global Ripple Effects: As Nucor raises prices domestically, the European Union faces significant challenges with diminished US export opportunities, retaliatory tariff measures, and shifting global trade patterns that are expected to lower EU GDP and reshape international steel commerce.
Introduction
The Steel Price Rally That’s Reshaping the Market Landscape
In the fast-paced world of steel pricing, few events capture the attention of industry participants quite like a sustained, multi-week price rally. Nucor Corporation, North America’s largest steel producer and a bellwether for the US steel industry, has delivered precisely that, announcing its sixth consecutive weekly price increase on December 1st, 2025. The company’s hot-rolled coil (HRC) base price climbed to $920 per short ton for most producing mills, with California Steel Industries (CSI)- Nucor’s West Coast joint venture – reaching $970 per ton. This remarkable string of increases, totaling $30 per ton over just six weeks, marks a significant shift in market sentiment and reflects powerful underlying forces reshaping the global steel landscape.
The implications of Nucor’s steel pricing moves extend far beyond Charlotte, North Carolina, where the company is headquartered. For manufacturers, distributors, and end-users dependent on reliable, affordable steel, these consecutive Nucor steel price increases signal both opportunity and challenge. For policymakers and trade economists monitoring global commerce, the price rally illustrates how protective trade measures can fundamentally alter market structure and competitiveness. Understanding the drivers behind Nucor’s aggressive steel price strategy, the market conditions enabling such increases, and the international ramifications provides critical insight into where the steel industry is headed in the remainder of 2025 and into 2026.
Why Nucor Is Raising Steel Prices: The Fundamental Market Drivers
Tariff Protection and Import Compression
The most direct catalyst for Nucor’s recent steel price increases lies in the tariff architecture established by the Trump administration throughout 2025. On June 3rd, 2025, President Trump signed an executive order that doubled Section 232 tariffs on steel imports from 25% to 50% for all countries except the United Kingdom, which remained at 25%. This marked a dramatic escalation from the 25% baseline tariffs introduced in March 2025, when the administration first raised duties from the pre-2025 level to provide additional protection for the US steel industry.
The 50% tariff regime fundamentally transformed the competitive landscape. Imported hot-rolled coil steel from the European Union, South Korea, Japan, and other major producers now faces a punitive 50% duty when entering the US market. This tariff structure makes most foreign-sourced HRC uncompetitive against domestically produced Nucor steel. Rather than a producer in Germany or Luxembourg undercutting Nucor by offering HRC at lower prices, the tariff burden makes their delivered costs prohibitively high. Distributors and manufacturers, faced with such tariff walls, have little choice but to source domestically from producers like Nucor or other US-based steelmakers.
The immediate result is a compression of import competition. Analysis from Boston Consulting Group (BCG) estimated that the tariff increase from 25% to 50% added approximately $50 billion in tariff costs to the US economy annually. However, from Nucor’s perspective, this tariff protection translated into reduced competitive pressure, more predictable pricing discipline from the market, and newfound pricing power. With foreign competitors largely priced out of the US market, Nucor can raise prices more confidently, knowing that buyers have limited alternatives.
Seasonal Demand Patterns and Year-End Momentum
Beyond tariffs, seasonal factors have contributed to Nucor’s confidence in raising steel prices. The fourth quarter of the year traditionally shows stronger demand as construction projects race to completion before winter, and manufacturers build inventory ahead of the holiday season and year-end disruptions. November and December typically see more active purchasing from distributors and end-users wanting to secure steel tonnage before the year closes and inventory management takes precedence.
This year-end purchasing behavior has manifested clearly in the market data. Steel industry sources reported that purchasing activity picked up noticeably in November 2025 following the US presidential election, as manufacturing firms and construction companies assessed the implications of continued protectionist policies. Builders working on infrastructure projects, automotive suppliers ramping up production, and equipment manufacturers all looked to secure steel supplies at what many assumed would be year-end pricing levels. This seasonal demand uptick, amplified by the tariff-driven urgency to lock in US-sourced materials, gave Nucor the confidence to push prices higher week after week.
Rising Production Costs and Input Material Pressures
While tariff protection and seasonal demand provide the backdrop for price increases, fundamental production economics also support higher steel prices. Steel mills like Nucor’s electric arc furnace (EAF) operations rely on ferrous scrap as their primary raw material input. In late November 2025, scrap prices remained elevated compared to historical averages, with busheling scrap trading around $381 per metric tonne and heavy melting scrap at $317 per metric tonne. These scrap costs, combined with electricity expenses, labor costs, and capital depreciation, create a conversion cost floor below which mills cannot sustainably operate.
Moreover, Nucor and other US steelmakers have invested heavily in capital expenditures throughout 2025 to modernize facilities, improve efficiency, and transition toward more sustainable electric arc furnace operations. These capital investments, coupled with sustained labor costs and overhead, necessitate maintaining healthy spreads between raw material costs and finished steel selling prices. By raising steel prices, Nucor ensures adequate margins to service debt, fund dividends, and reinvest in operational improvements. In Q2 2025, analyst projections suggested EBITDA margins for the steel industry could expand to 18-20% over the next 12-18 months if pricing power persisted- a level substantially above the historical 14-15% range.
Market Tightness and Lead Time Stability
One of the most telling indicators of Nucor’s strengthened market position is the persistence of 3-5 week lead times for spot order fulfillment. Despite raising prices for six consecutive weeks, Nucor has maintained stable lead times, indicating steady demand absorption. If demand were weakening significantly, the company would typically see lead times compress as customers delayed orders or shifted to competitors. The fact that lead times have held steady- and in some cases tightened- demonstrates that end-users continue to purchase actively despite the higher steel prices.
This market tightness reflects both the tariff-compressed supply from imports and genuine underlying demand from construction, automotive manufacturing, and industrial equipment production. With fewer foreign competitors in the market and domestic capacity running at reasonably high utilization rates, spot availability remains constrained. This scarcity mentality encourages customers to accept price increases rather than risk losing priority access to tonnage.
The Nucor Steel Price Timeline: Six Weeks of Increases
Week-by-Week Breakdown of the Rally
To understand the consistency of Nucor’s recent pricing moves, examining the specific price increases week by week reveals both the pattern and the acceleration:
| Week Ending | Nucor CSP ($/st) | CSI Price ($/st) | Weekly Increase | Cumulative 6-Week Increase |
|---|---|---|---|---|
| November 3 | $890 | $950 | +$5 | +$5 |
| November 10 | $895 | $955 | +$5 | +$10 |
| November 17 | $910 | $960 | +$15 | +$25 |
| November 24 | $915 | $965 | +$5 | +$30 |
| December 1 | $920 | $970 | +$5 | +$35 |
This progression is notable for its consistency and magnitude. Beginning in early November with a modest $5/ton increase, Nucor accelerated to a $15/ton jump on November 17th- the largest single weekly increase in this six-week cycle- before moderating back to $5/ton increases through December 1st. Over the six-week period, Nucor’s base HRC price climbed from $885/st to $920/st, an increase of 3.96%, or approximately $35/st in absolute terms. California Steel Industries, serving West Coast customers, saw an even steeper trajectory, moving from $945/st to $970/st, reflecting the tighter availability of imported Asian steel on the Pacific Coast.
Context: Recent Price History and Market Volatility
To place this six-week rally in context, it’s important to understand the volatile price environment of the preceding months. In Q3 2025, Nucor had faced significant margin compression, with HRC prices declining throughout July and August as weak demand and competitive pricing pressures forced reductions. By mid-August 2025, Nucor had lowered prices to $875/st, a $15/st decline from earlier July levels at $890/st. The company faced what industry observers characterized as tepid demand, with significant volumes being offered at deep discounts (as low as $750-$770/st in some large-volume deals) despite Nucor’s published pricing.
The market sentiment in September and early October remained uncertain. While CME futures indicated potential price recovery, actual spot transaction prices remained significantly discounted to published mill prices. By November, however, the dynamic shifted markedly. The rebound from the $875/st August lows to the $920/st level by December 1st represents a recovery of $45/st, or 5.1%, in just a few weeks-but equally important, it demonstrates Nucor’s ability to push pricing higher in an environment where tariff protection and seasonal demand converge.
The Driving Force: US Tariffs and Trade Policy in 2025
Section 232 and the Protectionist Framework
The backdrop for all steel pricing discussion in 2025 has been the Trump administration’s aggressive use of Section 232 of the Trade Expansion Act of 1962 to impose escalating tariffs on imported steel. Section 232 provides the President with authority to impose import restrictions on products deemed necessary for national security. While the national security rationale has been debated by economists and trade experts, the legal mechanism has allowed the Trump administration to pursue its tariff agenda relatively free from Congressional opposition.
The timeline of tariff actions in 2025 reveals the administration’s commitment to protectionism:
- February 10, 2025: President Trump announced 25% tariffs on all steel imports and 25% on aluminum imports, applicable to all countries without exception, effective March 12, 2025.
- June 3, 2025: The President doubled Section 232 steel tariffs from 25% to 50% for all countries except the UK (which remained at 25%), effective June 4, 2025.
- August 19, 2025: The Bureau of Industry and Security announced an expansion of steel derivative products subject to 50% tariffs, adding 407 new HTSUS subheadings to the list.
Each escalation has tightened the competitive environment for imports and strengthened the pricing power of domestic producers like Nucor. The 50% tariff, in particular, has effectively priced out most imported HRC, allowing domestic mills to operate in what amounts to a protected market.
Industry Expectations Regarding Future Tariff Policy
Survey data from the Steel Manufacturers Union (SMU) Steel Summit in May 2025 revealed that industry participants held diverse views on the permanence of tariffs. More than half (53%) of attendees expected Section 232 tariffs to decline to 25% by May 2026, suggesting that market participants did not expect the 50% level to persist indefinitely. Simultaneously, two-thirds (67%) of respondents anticipated exemptions or carve-outs for specific countries or products not made domestically.
This uncertainty about tariff permanence creates a nuanced dynamic. If Nucor and other producers believe tariffs may be reduced or exempted, they face a narrowing window to maximize prices and profits under the current protective regime. This urgency to capitalize on current tariff protection may be contributing to the aggressive pricing stance. Conversely, if tariffs are expected to persist, Nucor can take a longer-term approach to pricing, knowing that the competitive environment will remain favorable for years.
Demand Drivers Supporting Steel Price Resilience
Infrastructure Investment and Construction Sector Momentum
The underlying demand environment for steel has remained surprisingly resilient despite macroeconomic uncertainties and tariff-related business hesitancy. According to worldsteel forecasts released in October 2025, US steel demand was projected to grow 1.8% in 2025, supported by “front-loading of production ahead of increased tariffs and continued growth in infrastructure spending.” This infrastructure support reflects ongoing government investments in transportation, energy, water systems, and broadband deployment-spending that generates steady demand for structural steel, reinforcing bars, and plate products.
The Biden administration’s infrastructure initiatives and now-continued policy focus by the Trump administration on rebuilding US industrial capacity creates a sustained backdrop of construction activity. While not as robust as during peak pandemic-era stimulus, this infrastructure demand provides a floor under steel pricing and supports continued utilization of existing mill capacity.
Automotive Sector and Vehicle Production Recovery
The automotive industry, which accounts for approximately 20-25% of total US steel demand, has shown signs of recovery in late 2025. The American Iron and Steel Institute estimates that steel comprises 54% of materials used in vehicle manufacturing (both internal combustion engine and electric vehicle platforms). Within the sheet steel products critical to automotive, the auto sector represents approximately 40% of overall demand.
After a challenging 2024, when vehicle production volumes declined and automotive steel demand weakened, the industry began showing modest improvement. Dealer inventories normalized toward the 60-70 day supply range (from earlier peaks above 80 days), indicating that automakers needed to increase production to match consumer demand. Electric vehicle (EV) production, while still a fraction of total vehicles, has grown steadily, and EVs require steel for structural support and battery protection-offsetting some concerns that EV adoption might reduce steel intensity.
Industry sources noted that manufacturers and automotive suppliers, anticipating continued tariff protection in 2025 and into 2026, accelerated purchasing activity in November and December to secure steel tonnage before potential further price increases. This front-loading of demand supported Nucor’s confidence in raising prices heading into year-end.
Manufacturing Resilience and Equipment Orders
Beyond construction and automotive, broader manufacturing activity has provided underlying support for steel demand. While manufacturing output faces structural headwinds from automation, labor shortages, and competition from imports, the sector has maintained reasonable activity levels. Equipment manufacturers, heavy machinery producers, and industrial fabricators continue to order structural shapes, plates, and pipe-products derived from or closely related to HRC.
The tariff environment has also encouraged some reshoring of manufacturing to the United States, with companies reconsidering supply chain strategies in light of elevated import duties. While this reshoring remains in early stages, the announced investments by firms like Hyundai Steel and Posco in new US steel capacity, and the acceleration of electric arc furnace construction, suggest confidence in the long-term demand environment for US-produced steel.
The European Union: Steel Market Under Strain
Tariff Impacts and Lost Export Market Access
While Nucor and US steelmakers benefit from tariff protection, the European steel industry faces a dramatically more challenging environment. The European Commission study on US tariff effects, conducted by economist Gergő Motyovszki at the Directorate-General for Economic and Financial Affairs, provides crucial insight into how tariff hikes reshape international trade patterns and impact regions outside the US.
The study concludes that US tariff hikes are expected to slow the US economy (contrary to administration claims), reduce real incomes, and significantly reshape global trade patterns, with noticeable effects on the European Union. For the EU steel sector specifically, the impact is severe. Before the Trump administration’s tariff actions in 2018-2020, EU mills exported approximately 4.6 million tons of steel annually to the United States. By 2024, amid the 25% Section 232 tariffs and subsequent tariff-rate quotas, this had declined to 3.8 million tons. With the June 2025 escalation to 50% tariffs, further erosion of EU export volumes is expected.
The European Steel Association (EUROFER) estimated that the EU had already lost approximately 1 million tons of steel exports to the US market since the original 2018 Section 232 tariffs were implemented. With the 50% tariff level now in effect through mid-2025 and beyond, and with US derivative products (automobiles, machinery, appliances) facing additional tariffs, the margin for viable EU steel exports to the US has narrowed to extremely thin levels. High-value-added specialty products like tinplate and tool steel may remain viable, but commodity products like HRC and cold-rolled sheet are largely priced out of competition.
EU Domestic Market Overcapacity and Deflation
Unable to export to the lucrative US market at profitable prices, EU steelmakers face mounting inventory and overcapacity challenges in the European market. This has created a dynamic where displaced exports must be redirected to the EU domestic market and other regions, flooding those markets with lower-priced EU steel and exerting downward pressure on prices continent-wide.
According to the European Commission study, this flooding effect is particularly damaging because global steel remains in excess supply due to Chinese overcapacity and production discipline being insufficient to balance supply and demand. When EU producers lose their US outlet and redirect exports to their home market, they compete aggressively with domestic producers, suppressing prices and margins across the continent.
EUROFER has described the EU steel sector as “in crisis,” citing cumulative pressures from the original 2018 Section 232 tariffs, ongoing energy cost challenges, raw material price volatility, and now the June 2025 escalation to 50% tariffs combined with 15% tariffs on derivative goods like automobiles. The European Commission has promised “highly effective steel trade measures” to be presented by September 2025, but the specific nature and efficacy of these measures remain unclear.
EU Retaliatory Tariffs and Defensive Measures
The EU has responded to US tariffs with its own protectionist measures. In October 2025, the European Commission proposed reducing the tariff-free quota on imported steel from 21.8 million tons annually to approximately 18.3 million tons (nearly a 50% reduction), while simultaneously raising tariffs on out-of-quota imports from 25% to 50%. This proposal aims to shield the EU domestic market from further price competition and foreign (particularly Chinese) imports.
However, these retaliatory measures offer limited benefit to EU steel producers. While they protect the EU market from outside competition, they don’t restore the lost US export outlet. A European mill that previously sold HRC to the US at $890+/ton before tariffs now cannot profitably access that market at 50% tariff rates (which would push landed costs to $1,335+/ton). EU retaliatory protection of their home market provides some respite for margins, but it cannot offset the loss of export revenues, meaning EU mills face a permanently contracted addressable market and lower overall profitability.
GDP Impact and Broader Economic Implications
The European Commission study on US tariff effects quantifies the broader economic implications. The analysis indicates that US tariff hikes reduce real incomes and economic output both in the US (contrary to administration goals) and in the EU. For the European Union, the GDP impact is described as “moderate” in aggregate, but this masks severe regional and sectoral impacts. Steel and steel-intensive sectors (automotive, machinery, appliances) face acute pressure, with disproportionate effects on regions with high steel industry concentration, such as Germany (Ruhr Valley), Luxembourg, and France (Lorraine).
The study highlights the concerning dynamic: while tariffs redirect some demand from imports to domestic producers in the US, those same tariffs make US exports less competitive globally (because higher US input costs flow through to finished goods), reduce purchasing power for US consumers faced with higher prices, and displace global trade flows in ways that reduce overall economic activity. The EU, losing export opportunities to the protected US market and facing import competition as other countries redirect exports away from the US, experiences net GDP losses rather than gains.
The Broader Steel Industry Context: Competition and Market Structure
Integrated Mills vs. Electric Arc Furnace Producers
The US steel market structure divides between integrated producers (like Cleveland-Cliffs and US Steel) that combine iron ore processing and blast furnace steelmaking with downstream rolling mills, and electric arc furnace (EAF) producers like Nucor that rely on scrap input. This structural difference creates distinct cost profiles and competitive dynamics.
EAF producers like Nucor benefit from more flexible operations and typically lower all-in costs during periods of ample scrap supply. Integrated producers like Cleveland-Cliffs have higher fixed costs but often capture better margins on higher-value products and can shift between different ore sources and production routes to optimize economics.
During periods of tariff protection when import competition is minimized, both business models can thrive. However, integrated mills may benefit more during demand downturns, as they can reduce production at lower cost than EAF facilities and avoid the challenge of competing for scarce scrap in tight markets.
Market Consolidation and Strategic Positioning
The US steel industry continues to consolidate. The proposed Nippon Steel acquisition of US Steel (announced in late 2024 and subject to extended regulatory review into 2025) would reshape the competitive landscape if approved, bringing significant Japanese capital and technology to a merged entity. Similarly, ongoing discussions around additional M&A opportunities reflect industry participants’ view that consolidation enhances competitiveness and operational efficiency.
Nucor, as the industry leader by volume and arguably by efficiency, appears well-positioned in a consolidating industry. The company’s scale, capital efficiency, and technological prowess give it competitive advantages that become more pronounced as tariff protection levels the playing field between US producers and reduces competition from imports.
Global Overcapacity and Trade Flows
Despite tariff protection in the US market, global steel remains in chronic overcapacity. China alone produces more than half of the world’s steel, with estimated production exceeding 1 billion tons annually despite domestic demand growth moderating significantly. This Chinese capacity and aggressive export positioning creates a global pressure point-excess Chinese steel seeking export outlets, which must redirect away from protected US and increasingly protected EU markets toward markets in Asia, Africa, and Latin America.
This global overcapacity dynamic may limit upside for Nucor’s pricing even with tariff protection. If global prices decline due to Chinese export pressure in other markets, the tariff-protected margin between global prices and US prices may compress, limiting how much higher Nucor can push domestic pricing without triggering protester and political pressure for tariff adjustments.
The U.S. shift toward protectionism under the second Trump administration is marked by sharply increased tariffs designed to make imported goods less competitive and to support American producers while boosting federal revenue. While these moves are meant to encourage buying American and raise government income, several counteracting effects mean the changes could unfold with significant downsides for the broader economy.
Intended goals versus economic reality
- Large tariff hikes could indeed redirect demand away from foreign products and increase tariff revenue, giving the appearance of gains for domestic industries and the federal budget.
- However, the economic adjustments are rarely cost-free. Studies indicate that tariffs act as a tax on imports, raising costs for U.S. manufacturers who depend on foreign materials.
- Higher input costs can make U.S. goods more expensive both at home and abroad, undermining the international competitiveness of U.S. exporters and squeezing profit margins for businesses.
How tariffs could hurt the U.S. economy
- Consumers and businesses face higher prices, reducing real purchasing power and leading to lower household incomes since everyday goods and services become more expensive.
- Domestic demand for goods might rise, pushing up local prices and increasing inflationary pressures.
- U.S. exporters could lose market share as their products grow less affordable to international customers—potentially resulting in layoffs or slower wage growth in export-heavy sectors.
- The combined effect could be a slowdown in overall economic activity; research points to reductions in long-term GDP, lower wages, and a smaller capital stock.
The burden on firms and households
- Most of the economic pain from tariffs falls on domestic firms and households, who might experience lower real incomes and pay more for goods as import costs rise.
- While federal revenues rise from tariffs, any benefits would only be distributed through subsequent tax cuts or transfers, which often lag behind immediate price increases.
- The Congressional Budget Office and independent researchers estimate that consumer prices could rise by 1–5%, translating into thousands of dollars in added annual costs per household, with lasting negative effects on output, investment, and jobs.
Trade policy changes of this scale tend to spark complex global reactions, and how strongly these negative effects show up depends on how long tariffs remain, the pace of business adaptation, and whether foreign governments retaliate with their own trade barriers.
Conclusion: The Steel Market at an Inflection Point
Nucor’s six-week string of consecutive price increases, culminating in the $920/st HRC base price for December 1st, 2025, represents far more than a routine pricing adjustment in a volatile commodity market. Rather, it signals a fundamental shift in the competitive landscape and a recalibration of pricing power driven by tariff protection, seasonal demand strength, and producer confidence in the durability of the current policy environment.
For the US steel industry, Nucor’s pricing reflects a window of opportunity. The 50% tariff protection is creating a domestic market environment where pricing discipline prevails, import competition is minimal, and US producers can command prices substantially above global commodity levels. This is a highly attractive business environment that allows Nucor and other domestic producers to fund capital investments in technology and sustainability, maintain healthy margins, and reward shareholders through dividends and buybacks.
However, this window of opportunity is not permanent. The tariff environment depends on political will and ongoing negotiations with trading partners. Industry surveys suggest many participants expect tariff moderation within 12-18 months. Additionally, global overcapacity, particularly from China, remains a structural headwind. If import competition returns, or if economic weakness dampens underlying demand, Nucor’s pricing power will erode.
For steel buyers – manufacturers, fabricators, distributors, and construction companies – the near-term outlook involves accepting higher steel costs and integrating those costs into their own pricing and profitability models. Some buyers will hedge through futures or long-term agreements; others will pass costs downstream to customers; many will absorb at least a portion in reduced margins. The key is active management: monitoring price trends, understanding market dynamics, and making disciplined purchasing decisions rather than reactive crisis purchasing.
For the European Union and global steel producers outside the US, the current environment presents acute challenges. Displaced from the US market by tariffs, facing domestic market pressure from inventory buildup, and competing against subsidized Chinese producers in other regions, non-US producers face compressed margins and difficult strategic choices. Some will exit capacity or consolidate; others will invest in higher-value specialty products; some may face permanent contraction.
Looking ahead to 2026 and beyond, the steel market will likely evolve in one of several directions:
- Tariffs persist and US pricing power remains strong: US producers maintain elevated prices, global producers adapt to permanent US market closure, and global trade patterns shift permanently toward more regionalization.
- Tariffs moderate and US prices normalize: Competition returns, import volumes increase, and US domestic prices retreat toward pre-tariff levels, pressuring margins industry-wide.
- Global demand recovers faster than expected: Infrastructure investment, automotive production, and construction accelerate, tightening global supply and supporting pricing across regions.
- Chinese overcapacity forces global price collapse: Excess global supply, particularly from China, overwhelms any tariff protections or demand recovery, pushing commodity prices lower across regions.
The most likely scenario combines elements of each: moderate tariff persistence (at levels lower than 50% but higher than pre-2025 levels), modestly stronger demand in 2026, and continued pressure from global overcapacity. In that environment, Nucor would likely see some price moderation from current levels but prices would likely remain substantially above pre-tariff baselines – a still-favorable environment compared to the competitive intensity of the pre-2025 era.
The takeaway for industry participants: Nucor’s six-week price rally reflects real structural changes in the competitive landscape. Monitor tariff policy closely, prepare for demand recovery in 2026, lock in hedges for cost certainty, and develop strategic plans that account for both tariff persistence scenarios and tariff moderation scenarios. The steel market has entered a new era shaped by protectionism, trade policy, and global competitive dynamics – and Nucor’s recent pricing moves are a clear signal that industry participants are adapting to that new reality.
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Steel Market Update. “Nucor ups HR spot price by $5/ton.” November 23, 2025.
https://www.steelmarketupdate.com/2025/11/24/nucor-ups-hr-spot-price-by-5-ton/
Steel Market Update. “Nucor increases HR spot price by $5/ton.” November 9, 2025.
https://www.steelmarketupdate.com/2025/11/10/nucor-increases-hr-spot-price-by-5-ton/
SteelOrbis. “Nucor’s weekly CSP price stable for an eleventh week at $750 a ton.” January 22, 2025.
https://www.steelorbis.com/steel-prices/steel-prices-market-analyses/flats-and-slab/nucors-weekly-csp-price-stable-for-an-eleventh-week
STR Trade. “Section 232 Tariffs on Steel & Aluminum.” August 18, 2025.
https://www.strtrade.com/trade-news-resources/tariff-actions-resources/section-232-tariffs-on-steel-aluminum
Trading Economics. “HRC Steel – Price – Chart – Historical Data – News.” December 1, 2025.
https://tradingeconomics.com/commodity/hrc-steel
UNARCO-Rack. “Steel Pricing Weekly Average.” November 25, 2025.
https://www.unarcorack.com/steel-average/
World Steel Association (worldsteel). “Short Range Outlook October 2025.” October 23, 2025.
https://worldsteel.org/media/press-releases/2025/worldsteel-short-range-outlook-october-2025/
World Steel Dynamics. “Nucor CSP Price Flat, Other Major Indexes Soften.” October 1, 2025.
https://www.worldsteeldynamics.com/nucor-csp-price-flat-other-major-indexes-soften/
World Steel Dynamics. “EU HRC Market Steady as Buyers Weigh Risks and Resist Higher Offers.” November 12, 2025.
https://www.worldsteeldynamics.com/eu-hrc-market-steady-as-buyers-weigh-risks-and-resist-higher-offers/
Disclaimer
The content provided in this article is for general informational purposes only and does not constitute financial, legal, or professional advice. Readers should seek consultation with qualified professionals before making any financial, investment, or legal decisions. We disclaim any liability for losses, damages, or adverse outcomes resulting from decisions made based on the information presented herein.
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