Nucor Lifts Hot-Rolled Coil Spot Offers Amid Strong Steel Demand
Nucor raised its weekly hot-rolled coil spot price by 15 US dollars to 1,295 US dollars per short ton, signaling continued domestic steel pricing momentum.
Nucor Corporation has raised its weekly consumer spot price for hot-rolled coil by 15 US dollars to 1,295 US dollars per short ton for the week of November 9, 2026. Reports from Steel Market Update and Shanghai Metals Market noted that California Steel Industries, Nucor's West Coast joint venture, matched the adjustment by increasing its offer by 15 US dollars to 1,365 US dollars per short ton. The move extends a series of price increases for flat-rolled products, with lead times remaining between three and five weeks due to tight domestic availability.
The ongoing pricing strength comes alongside robust operational results. In the third quarter of 2026, Nucor's Steel Mills segment achieved record shipments of 7.23 million tons, marking a 12% rise year over year and lifting segment earnings to $1.79 billion from $793 million. Higher shipments contributed to a 32% rise in the top line, while the external average selling price for the Steel Mills unit climbed 19% to $1,233 per ton. Management anticipates fourth-quarter earnings to align with or slightly surpass third-quarter levels, supported by continued realization of higher prices.
The company is advancing several capital projects to support demand from infrastructure, energy, data centers, and non-residential building. Construction on Nucor's 3-million-ton annual capacity sheet mill in West Virginia is nearing completion, having shipped its first prime pickled coils to internal divisions in September 2026 ahead of an early 2027 ramp-up. Additionally, a new 500,000-ton annual capacity galvanizing line at Berkeley launched production in October 2026. Downstream acquisitions, including Southwest Data Products and Rytec Corporation, have further widened the firm's commercial offerings.
Financially, Nucor generated roughly $4.5 billion in cash from operations across the first nine months of 2026, closing the third quarter with about $4.3 billion in liquidity, including $3.5 billion in cash and cash equivalents. The company distributed roughly $1.36 billion to shareholders through repurchases and dividends over the nine-month span. In European trading on Lang & Schwarz, Nucor shares changed hands at 234.10 euros on November 11, 2026.