Scrap costs drive $30/T Nucor bar product hike
Dec 09, 2011 | 03:21 PM
| Michael Cowden
Tags
Nucor,
reinforcing bar,
merchant bar,
structural products,
steel bar prices,
Michael Cowden
TORONTO — Nucor Corp. plans to boost transaction prices for reinforcing bar, merchant bar and structural products by $30 per ton ($1.50 per hundredweight), citing raw material costs.
The Charlotte, N.C.-based steelmaker suggested in letters to customers Friday that the move reflected increased scrap costs and would be effective with shipments Jan. 1.
Market sources told AMM that they had anticipated the move and expected other major rebar mills to announce similar hikes, but no other notices had been issued as of late Friday.
The boost to rebar tags comes after Nucor led the charge Thursday in boosting wire rod prices by $40 per ton ($2 per cwt).....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute — no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Subscribe Now
Click Here
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.
Take a Free trial
Click Here