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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 ( amm.com, 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 ( amm.com, April 5).


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