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 (
amm.com, April 11).