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Nucor cuts SBQ, wire rod surcharge

Keywords: Tags  Nucor, SBQ, special bar quality, wire rod, surcharge, raw materials, Stacy Irish

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.

Nucor’s Darlington, S.C.-based bar mill group’s surcharge is based on AMM’s Chicago buying price for No. 1 busheling, which slipped to $388 per gross ton in March from $408 per ton last month (, March 7).

The Charlotte, N.C.-based steelmaker had also lowered its surcharge for March by $32 per ton vs. February (, Feb. 18).

Nucor’s alloy surcharge for such inputs as molybdenum, nickel, chrome, vanadium and manganese is tied to AMM’s monthly free-market price for ferroalloys established two months prior, with adjustments made monthly, Nucor said in a March 11 letter to customers.

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