Gerdau, SDI cut beams again in unusual move
May 02, 2013 | 05:35 PM
| Frank Haflich
LOS ANGELES Structural steel prices have become a moving target as two of the three major U.S. producers posted their second reductions in a month.
Gerdau Long Steel North America, in what most market observers viewed as an uncharacteristic downside leading move, reduced its published beam prices by $20 per ton effective May 1 due to increasing levels of competition from both domestic and foreign producers, the Tampa, Fla.-based producer said in a letter to customers.
Gerdaus move was quickly followed by the Columbia City, Ind.-based structural and rail division of Steel Dynamics Inc. (SDI), which said it would drop published transaction prices on wide-flange beams and channels by $20 per ton effective May 2. ....
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