US longs leader Nucor Bar Mill Group has announced to customers that effective with shipments February 17, 2009, Nucor's raw materials surcharge (RMS) applicable to rebar, merchant bar and structural products will be $48 /nt ($52.91 /mt or $2.40 cwt.), which represents a decrease of $30 /nt ($33.07 /mt or $1.50 cwt.) compared to the February 1 2009 surcharge.
In addition to the new RMS taking effect on February 17, Nucor will increase base prices for rebar by $30 /nt ($33.07 /mt), whereas the base price for merchant bars and structural products will remain unchanged.
The net effect of this move is that transaction pricing for rebar will remain unchanged and merchant bar and structural products will decrease by 30 /nt ($33.07 /mt or $1.50 cwt.)