Nucor, SDI, Gerdau lower bar prices

Oct 11, 2012 | 04:37 PM | Michael Cowden

Tags  reinforcing bar, merchant bar, structural products, price announcement, price decrease, raw materials surcharge, Nucor, steel long products

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 steelmaker’s raw materials surcharge is based on AMM’s consumer buying price for automotive shredded scrap in the Chicago market, which fell $47 per ton for October.....

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