NEW YORK Nucor Corp. is lowering its scrap and alloys surcharge for special bar quality (SBQ) products and wire rod to $238 per ton ($11.90 per hundredweight), down $32 per ton ($1.60 per cwt) from Februarys surcharge, effective March 1.
Nucors Darlington, S.C.-based bar mill groups surcharge is based on AMMs Chicago buying price for No. 1 busheling, which had an appraised value of $408 per gross ton in February vs. $440 last month (amm.com, Feb. 7).
The move follows the Charlotte, N.C.-based steelmakers announcement last week that it would raise transactional base pricing on all carbon and alloy SBQ rolled bar products by $30 per ton ($1.50 per cwt) effective with shipments March 10 (amm.com, Feb. 10).
Nucors alloy surcharge for such inputs as molybdenum, nickel, chrome, vanadium and manganese is tied to the monthly AMM free-market price for ferroalloys established two months prior, and adjustments will be made monthly, it said in a Feb. 17 letter to customers.