Surcharge discontent said brewing with mills
Jun 05, 2013 | 05:52 PM
| Samuel Frizell
NEW YORK Gerdau Long Steel North Americas move to set its steel prices before scrap settles for the second consecutive month appears to signal the markets growing discontent with the raw material surcharge mechanism, steel sources say.
In previous months, many steel mills announced their new steel prices in the days following the release of AMMs monthly consumer buying prices for scrap in the Chicago market, used as the basis for some mills raw material surcharges. In May and June, however, Gerdau sent out pricing letters before scrap settledas well as before traditional pricing leader Nucor Corp.....
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