Beams tumble $30/T as scrap price drops

Oct 11, 2012 | 04:48 PM | Frank Haflich

Tags  Nucor-Yamato, SDI, Nucor, Gerdau Long Steel North America, wide-flange beams, beam prices, scrap prices, steel Frank Haflich

ATLANTA — Steel distributors are hoping a $30-per-ton price cut in wide-flange beams will revive a market that earlier this week was stalled as buyers awaited mills’ reactions to lower scrap tags.

Nucor-Yamato Steel Co., Blytheville, Ark., has been joined by the structural and rail division of Fort Wayne, Ind.-based Steel Dynamics Inc. (SDI) in lowering beam prices in the wake of a $47-per-ton drop in AMM’s consumer buying price for shredded automotive scrap in the Chicago market, used to determine some mills’ raw material surcharges. Nucor Corp.’s Berkeley,....

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