Buyers clamber as Nucor hikes rebar $45/T for Jan.
Dec 09, 2010 | 11:25 AM
| Lisa Gordon
Nucor Corp. has announced another price increase on concrete reinforcing bar, sending buyers scrambling to stock up before prices jump by $45 per ton next month.
The Charlotte, N.C.-based company said in a letter to its customers dated Wednesday that it is raising its prices on rebar and merchant bar products by $45 per ton ($2.25 per hundredweight) effective with Jan. 1 shipments.
The announcement comes on the heels of last week's surprise announcement of an immediate $20-per-ton price increase by Nucor and Steel Dynamics Inc., Fort Wayne, Ind. (AMM, Dec. 6).
With the first increase sticking, transaction prices are now $33.75 per cwt for grade 60, No. 5 rebar; $40.50 per cwt for 2- by 2- by ¼-inch angles; $39.50 per cwt for 3- by 3- by ¼-inch angles; $40 per cwt for 8- by 11½-inch channels; and $40.75 per cwt for ½- by 4-inch flats.....
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