NEW YORK Nucor
Corp. and Gerdau Long Steel North America have raised rebar
prices by $10 per ton (50 cents per hundredweight) effective
immediately for all new orders, the steelmakers said in letters
All confirmed orders
made with Charlotte, N.C.-based Nucors mills by the close
of business Oct. 14 will be price protected if shipped no later
than Nov. 8, the company said Oct. 14.
Gerdau said in its
Oct. 15 letter that all orders made before Oct. 14 would be
price protected if shipped no later than Nov. 1.
This is the first across-the-board price adjustment the
steelmakers have announced in months, as rebar prices
stabilized when the mills divorced pricing from a raw material