Strong demand boosts rebar prices
Aug 18, 2014 | 05:28 PM
| Nat Rudarakanchana
NEW YORK Several rebar producers have announced price increases amid strong demand and lean inventories, market sources said.
Market leader Nucor Corp. raised rebar prices by $10 per ton (50 cents per hundredweight) effective with new orders Aug. 18, the companys Texas division said in an Aug. 15 letter to customers. Tampa, Fla.-based Gerdau Long Steel North America also raised rebar prices by $20 per ton ($1 per cwt), it said in an Aug. 15 letter to customers.
The moves were followed Aug. 18 by Cincinnati-based Byer Steel Corp., which raised A996 rebar by $20 per ton; and Irving, Texas-based Commercial Metals Co. (CMC), the third-largest producer in the United States, which raised rebar prices by $10 per ton effective immediately.....
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