NEW YORK Nucor Corp. is lowering its raw material surcharge for special bar quality (SBQ) products and wire rod to $218 per ton ($10.90 per hundredweight) effective April 1, down $20 per ton ($1 per cwt) from March.
Nucors Darlington, S.C.-based bar mill groups surcharge is based on AMMs Chicago buying price for No. 1 busheling, which slipped to $388 per gross ton in March from $408 per ton last month (amm.com, March 7).
The Charlotte, N.C.-based steelmaker had also lowered its surcharge for March by $32 per ton vs. February (amm.com, Feb. 18).
Nucors alloy surcharge for such inputs as molybdenum, nickel, chrome, vanadium and manganese is tied to AMMs monthly free-market price for ferroalloys established two months prior, with adjustments made monthly, Nucor said in a March 11 letter to customers.