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Gerdau lowers rebar base prices $20/ton

Keywords: Tags  Gerdau Long Steel North America, rebar, scrap surcharge, shipments, May, Samuel Frizell

NEW YORK — Gerdau Long Steel North America has lowered its base price on concrete reinforcing bar (rebar) by $20 per ton ($1 per hundredweight) effective for all shipments beginning May 1, the company announced in a letter to customers.

The company said in the letter it was reducing its price "in light of increasing levels of competition from both domestic and foreign producers."

The price reduction comes less than three weeks after the Tampa, Fla.-based steelmaker lowered its base prices by $15 per ton effective April 11 due to lower scrap surcharges (, April 11).

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