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Gerdau holds the line on rebar

Keywords: Tags  Gerdau Long Steel North America, reinforcing steel, steel rebar, price moves, July, lateral move, shredded auto scrap, raw material surcharge Sam Frizell

Gerdau Long Steel North America is holding prices flat on steel reinforcing bar for July, the company said in a July 3 letter to customers.

"We will continue to monitor the market to ensure Gerdau and its partners are on a competitive playing field," the company said in its letter, sent the same day that AMM settled its Chicago consumer buying price for shredded automotive scrap, traditionally used as the basis for raw material surcharges for rebar.

The move marks the third month in a row that Gerdau has announced its prices independent of scrap price movements.

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