NEW YORK Nucor Corp. has lowered its net price for concrete reinforcing bar (rebar) by $15 per ton effective with April 11 shipments following last weeks downturn in scrap prices.
The Charlotte, N.C.-based steelmaker said it was increasing its base price for rebar by $7 per ton (35 cents per hundredweight) but reducing its scrap surcharge by $22 per ton ($1.10 per cwt), according to an April 10 letter to customers. The move changes the steelmakers announced April 1 increase of $25 per ton to a $10-per-ton increase, the company said.
AMMs Chicago consumer buying price for shredded automotive scrapused as the basis for Nucors raw materials surchargefell $22 per ton last week (amm.com, April 4).
Nucors net price decrease comes on the heels of Gerdau Long Steel North Americas recent announcement that it would boost transactional prices on rebar products by $10 per ton (50 cents per cwt) effective with new orders April 15 (amm.com, April 5).