Gerdau retracting hike as Nucor lowers rebar

Apr 11, 2013 | 06:06 PM | Samuel Frizell

Tags  Nucor, Gerdau Long Steel North America, Marcelo Canosa, shredded automotive scrap, rebar, reinforcing bar, Samuel Frizell

NEW YORK — Nucor Corp. has lowered its net price for concrete reinforcing bar (rebar) by $15 per ton, leading Gerdau Long Steel North America to retract its earlier price hike and fall in line with Nucor’s move.

Charlotte, N.C.-based Nucor said in an April 10 letter to customers that it was increasing its base price for rebar by $7 per ton (35 cents per hundredweight) but reducing its scrap surcharge by $22 per ton ($1.10 per cwt) effective with April 11 shipments, resulting in a $15-per-ton (75-cents-per-cwt) decrease in transaction prices. AMM’s Chicago consumer buying price for shredded automotive scrap—used as the basis for Nucor’s raw materials surcharge—fell $22 per ton last week (amm.com, April 4).....





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