Leading US steel manufacturer Nucor has implemented a US$20 per ton increase in its weekly spot price for hot-rolled coils (HRC), bringing the price to US$740 per short ton.

Besides, the increase in Nucor's HRC supply marked the first hike since mid-September and represented the highest level since early June 2024.

This price adjustment followed US Steel's recent announcement of a US$30 per ton increase for flat products, suggesting major producers are testing the market's appetite for higher prices.

While these benchmark prices remained stable from the previous week, market adjustments are expected following the price increases announced by both US Steel and Nucor.