Nucor and Gerdau are raising rebar prices by $30 per tonne

US steel producers Nucor Bar Group and Gerdau Long Steel North America have raised their rebar prices by $30 per short tonne. 

Nucor’s price increase comes into effect for all orders received after the close of business on 9 October; Gerdau’s announcement applies to new orders received from 12 October.

Both manufacturers have stated that all confirmed orders as at the close of business on 9 October will be protected against price changes, provided the goods are dispatched by 23 October.

Gerdau Long Steel North America has also increased prices for most types of shaped steel (channels, beams, sections), as well as flat steel, by $30 per short tonne. This applies to new orders received from 9 October. Orders confirmed by the close of business on 8 October are guaranteed the price provided they are shipped by 22 October.

In addition, Nucor has once again raised the spot price (CSP) for hot-rolled coils by $10 per short tonne compared with the previous week. This is stated in the company’s letter to customers dated 12 October. The new offer price stands at $1,240 per metric tonne. The CSP for the joint venture California Steel Industries (CSI) has risen by $15 per short tonne to $1,305 per metric tonne.

It should be noted that in the US in early September, the pattern of rebar demand by sector remained similar to that seen in August, driven by the energy, infrastructure and data centre sectors. The availability of imported products limited the rise in domestic prices.

Courtesy : https://gmk.center/en