LOS ANGELES Steel Dynamics Inc. (SDI) has raised its beam price $35 per ton as producers begin to fall in line behind Nucor-Yamato Steel Co.s earlier increase.
The Fort Wayne, Ind.-based steelmaker said it was raising its price effective with new orders after 5 p.m. Dec. 19. The hike by SDIs Structural and Rail division, Columbia City, Ind., would bring its new f.o.b. mill price on core wide-flange beam items to $800 per ton ($40 per hundredweight).
Earlier, Nucor-Yamato, Blytheville, Ark., and Charlotte, N.C.-based Nucor Corp.s Berkeley beam division in Huger, S.C., said they were raising prices by a similar amount, effective at the close of business on Dec. 18 (amm.com, Dec. 19).
SDI continued to post a $1-per-cwt extra charge on all items shipped from stock.
Market sources said the third major beam producer, Tampa, Fla.-based Gerdau Long Steel North America, continued to post a published price of $39.75 per cwt on the core items affected by the SDI and Nucor-Yamato increases.