Nucor announces rebar pricing increase

Nucor Corp. has announced that it will increase transaction prices for rebar shipments by $20 /nt ($22 /mt or $1.00 cwt.), effective June 1, 2006. The price hike includes a $12 /nt ($13 /mt or $0.60 cwt.) Raw Material Surcharge (RMS) increase, and an $8 /nt ($9 /mt or $0.40 cwt.) increase in base price. The company's June RMS will be $5.40 cwt. ($119 /mt or $108 /nt) compared to the $4.80 cwt. ($106 /mt or $96 /nt) RMS for May 2006.