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Nucor, Gerdau raise rebar prices $10/T

Keywords: Tags  steel prices, Nucor, Gerdau Long Steel North America, price increase, steel mills, rebar

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 to customers.

All confirmed orders made with Charlotte, N.C.-based Nucor’s 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 surcharge.

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