In a letter to customers late Thursday, Nucor announced it will increase transaction prices for rebar by $1.00 cwt. ($20/nt or $22/mt), effecting with new orders as of Friday, Oct. 28.
Today, Steel Dynamics Inc. announced their own rebar price increase, also for $1.00 cwt.
Other US domestic rebar mills, including Gerdau, are expected to follow suit but further announcements have not yet been made.
Other US domestic rebar mills, including Gerdau, are expected to follow suit but further announcements have not yet been made.