Nucor keeps bar prices flat for May shipments
Apr 11, 2012 | 04:34 PM
| Michael Cowden
Tags
Nucor,
rebar,
merchant bar,
structural products,
steel prices,
long products,
Michael Cowden
TORONTO — Nucor Corp. plans to hold the line on transaction prices for reinforcing bar, merchant bar and structural products for a second consecutive month.
The Charlotte, N.C.-based steelmaker will lower its raw materials surcharge by $10 per ton (50 cents per hundredweight) beginning with May 1 shipments but increase base prices by the same amount.
"The net effect of this move is that our transaction pricing for concrete reinforcing bars, merchant bars and structural products will remain unchanged," the company said in a letter to customers dated April 10.
Market sources said other domestic mills were expected to follow Nucor’s move--if they hadn’t already--and keep prices even.
In March, Nucor announced plans to keep rebar, merchant and structural products unchanged for April 1 shipments (AMM, March 15).....
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