Nucor, a major US electric arc furnace steel producer, has reduced HRC prices by $35/ w-o-w to $680/t, the lowest since Apr’24 with prices falling below $700/t. Moreover, North American HRC prices fell below $700/t last week, hitting new lows and continuing to drop. Nucor’s West Coast subsidiary, California Steel, also reflects this trend with a $130/t drop from Apr’24 to $760/t.
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