Nucor Corporation Launched New Hot-Rolled Coil Spot Pricing

SEATTLE (Scrap Monster): Charlotte, North Carolina-headquartered Nucor Corporation announced introduction of weekly Nucor Consumer Spot Price (CSP) - a spot pricing mechanism for hot-rolled coils. This will provide Nucor’s customers with consistent and transparent communications regarding spot pricing of the steel commodity. The first CSP will be launched today, Monday, April 8, 2024, the company press release said.

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The CSP will be released every Monday, in order to communicate the company’s hot-rolled spot price for the week to its customers. The spot prices thus released will be in effect until the next weekly publication of the data. The CSP pricing will be derived from both quantitative and qualitative data. The lead times for all spot orders will be offered between three and five weeks, so as to help customers to plan accordingly.

According to Rex Query, Executive Vice President of Sheet Products for Nucor Corporation, the CSP will help its customers make informed decisions for their businesses by providing them with timely information. It offers relevant and current information about the company’s sheet business, which in turn will reduce their reliance on speculation, thereby reducing risk. The CSP tool will strengthen the company’s status as one of America’s most diverse and efficient industrial manufacturers, Query added.