Gerdau nixes $30 per ton price hike on beams

Jan 31, 2014 | 05:17 PM | Frank Haflich

Tags  steel, wide-flange beams, price increase, cancellation, Gerdau Long Steel North Americas, Nucor-Yamato, Steel Dynamics, Inc. Frank Haflich

LOS ANGELES — Gerdau Long Steel North America’s decision to cancel its $30-per-ton price increase on steel beams came as little surprise to buyers as other major mills failed to support the move.

The Tampa, Fla.-based producer said in a Jan. 30 letter to customers that "in order to be competitive" it was "rescinding" its Jan. 13 increase of $1.50 per hundredweight ($30 per ton) that was due to begin with shipments Feb. 1 (amm.com, Jan.....





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