CHICAGO Steel Dynamics Inc. (SDI) will lower its scrap surcharge on special bar quality (SBQ) products by $20.33 per ton ($1.02 per hundredweight) effective May 1.
Fort Wayne, Ind.-based SDI bases its surcharge on a three-city average of AMMs prices for No. 1 bundles, which was $390.33 per ton on April 10 vs. $410.66 a month earlier, SDI said in an April 11 letter to customers. The May surcharge is $275.33 per ton ($13.77 per cwt), down 6.9 percent from Aprils surcharge of $295.66 per ton ($14.78 per cwt).
Charlotte, N.C.-based steelmaker Nucor Corp. recently announced it will lower its May surcharge on SBQ products by $21 per ton ($1.05 per cwt) to $232 per ton ($11.60 per cwt) effective with May 1 shipments (amm.com, April 11).