CHICAGO Steel Dynamics Inc. (SDI) will raise its scrap surcharge on all special bar quality (SBQ) products by $37.66 per ton ($1.88 per hundredweight) effective April 1.
Fort Wayne, Ind.-based SDI bases its surcharge on AMMs three-city average for No. 1 bundles, which was $410.66 per ton as of March 11, SDI said in a March 12 letter to customers. The April surcharge will equal $295.66 per ton, up from $258 per ton in March (amm.com, Feb. 15).
Earlier this week, Nucor Corp. said it would lift its scrap surcharge on SBQ products April 1 by $2.15 per hundredweight ($43 per ton) to $253 per ton (amm.com, March 12).