In a letter to customers late Friday, Nucor announced that it will reduce its published price for merchant bar and structural products by $40/nt ($2.00 cwt. or $44/mt), effective with shipments on Monday, February 9, 2015.
The company blamed imports from Mexico, Turkey and Taiwan for the move, along with “unpublished discounts by our domestic competitors.”
Gerdau Long Steel North America matched the price decrease in a letter to customers Monday.