US rebar market mixed on Gerdau’s $30 hike
Jan 14, 2014 | 02:56 PM
| Stacy Irish
NEW YORK The U.S. rebar market is divided on whether Gerdau Long Steel North Americas $30-per-ton ($1.50-per-hundredweight) transaction price increase will stick.
The Tampa, Fla.-based company raised its prices for rebar and merchant bar products effective with new orders Jan. 14 (amm.com, Jan. 13); all orders confirmed by the close of business Jan. 13 will be price protected if shipped before Feb. 1.
Some market participants said Gerdaus price hike will stick due to the recent increase in AMMs Chicago consumer buying price for shredded automotive scrap, the raw material input for rebar, which increased to $438 per ton in January from $415 the previous month.....
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