Mills continue to shift from surcharge

Jun 06, 2013 | 05:41 PM | Samuel Frizell

Tags  raw material surcharge, Nucor Corp., Gerdau Long Steel North Ameica, rebar, merchant bar, structural products, Samuel Frizell

NEW YORK — Nucor Corp. has announced for the second straight month its long steel prices without waiting for scrap to settle, joining an apparent industrywide shift away from the raw material surcharge component previously used to help determine pricing.

Charlotte, N.C.-based Nucor said June 5 it is keeping all of its published prices on reinforcing bar, merchant bar and structural products unchanged. The announcement, which followed Gerdau Long Steel North America’s June 3 pricing announcement, came before AMM settled its Chicago consumer buying price for shredded automotive scrap, traditionally used as the basis for Nucor’s raw material surcharge.....

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