CHICAGO Gerdau Long Steel North America has lowered published prices for most angles, channels, flats, rounds and squares by $40 per ton ($2 per hundredweight).
The Tampa, Fla.-based steelmaker said in a letter to customers dated Thursday that the decrease was effective immediately. "In light of the continued volatility in the steel market, all price announcements in the future, whether it is a decrease or an increase, will be effective immediately at the time of the announcement," the company said.
Gerdau dropped straight-length reinforcing bar by $25 per ton ($1.25 per cwt), also effective immediately (amm.com, Oct. 11).
The moves followed similar decreases by other domestic steelmakers in recent days.