NEW YORK Nucor Corp. has lowered its raw material surcharge on concrete reinforcing bar, merchant bar and structural products by $22 per ton ($1.10 per hundredweight) but raised its base prices on those products by the same amount.
"The net effect is that our transaction pricing for concrete reinforcing bar, merchant bar and structural products will remain unchanged," the Charlotte, N.C.-based steelmaker said May 20.
The move, effective May 21, comes after Nucor lowered its rebar prices by $20 per ton effective with shipments May 2 (amm.com, May 3) and said that it would not shift its prices again in May due to scrap price changes. "(This price change) will serve to be our new transaction pricing for the month regardless of any change in the raw material surcharge, which will be announced no later than the third Monday of the month," it said at the time (amm.com, May 3).
AMMs Chicago consumer buying price for shredded automotive scrapthe basis of Nucors raw material surcharge for rebar, merchant bar and structural productssettled down $22 per ton for May (amm.com, May 3).