US rebar market mixed on Gerdau’s $30 hike

Jan 14, 2014 | 02:56 PM | Stacy Irish

Tags  rebar, Gerdau Long Steel North America, price increase, Nucor, shredded automotive scrap, Commercial Metals, ArcelorMittal USA, merchant bar Stacy Irish

NEW YORK — The U.S. rebar market is divided on whether Gerdau Long Steel North America’s $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 (, 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 Gerdau’s price hike will stick due to the recent increase in AMM’s 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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