In a letter to customers sent late Friday, Gerdau Long Steel North America announced that it will increase the published prices on rebar, merchant bar, and beams and piling products by $1.00 cwt. ($20/nt or $22/mt) effective with shipments September 19, 2011.
No reason was given for the increase, although the letters stated that Gerdau "reserves the right to make adjustments to maintain [their] competitive position across all Gerdau long steel product lines."
It remains to be seen if other US mills, such as Nucor or Steel Dynamics, Inc., will respond with similar announcements.