Nucor, SDI, Gerdau lower bar prices
Oct 11, 2012 | 04:37 PM
| Michael Cowden
CHICAGO At least three major steel mills have dropped their prices on long products, with other domestic mills expected to follow suit.
Charlotte, N.C.-based steelmaker Nucor Corp. cut concrete reinforcing bar tags by $25 per ton ($1.25 per hundredweight) and merchant bar and structural products by $40 per ton ($2 per cwt) effective with shipments Thursday, according to customer letters dated Wednesday.
Nucor reduced its raw materials surcharge by $47 per ton while raising published list prices for rebar by $22 per ton and merchant bar and structural products by $7 per ton, according to its customer letters. The steelmakers raw materials surcharge is based on AMMs consumer buying price for automotive shredded scrap in the Chicago market, which fell $47 per ton for October.....
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