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Nucor lowers rebar $15 per ton

Keywords: Tags  Nucor Corp., shredded automotive scrap, rebar, April shipments, Samuel Frizell

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 week’s 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 steelmaker’s announced April 1 increase of $25 per ton to a $10-per-ton increase, the company said.

AMM’s Chicago consumer buying price for shredded automotive scrap—used as the basis for Nucor’s raw materials surcharge—fell $22 per ton last week (, April 4).

Nucor’s net price decrease comes on the heels of Gerdau Long Steel North America’s 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 (, April 5).

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