Nucor, Gerdau to raise rebar, merchants $35/ton
Nov 12, 2012 | 03:24 PM
| Michael Cowden
CHICAGO At least two major mills have announced plans to boost long products prices in response to a rebound in domestic scrap tags.
Nucor Corp. said it plans to increase net prices on reinforcing bar, merchant bar and structural bar products by $35 per ton ($1.75 per hundredweight) effective with Dec. 1 shipments.
The Charlotte, N.C.-based steelmaker said in a letter to customers dated Nov. 9 that the hike comprises a $52-per-ton ($2.60-per-cwt) increase in the companys raw material surcharge combined with a decrease in base prices of $17 per ton (85 cents per cwt).
Tampa, Fla.-based Gerdau Long Steel North America jumped on board Monday, announcing in letters to customers a $35-per-ton increase on rebar and most angles, channels, flats, rounds and squares. Gerdau said its increases are effectively immediately on all new orders, while existing orders will be price protected provided they are shipped prior to Dec. 1, the company said in its Nov. 12 letters.....
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