Despite steep scrap decrease, Nucor keeps longs pricing flat

SteelOrbis has learned that Nucor Corp.'s September transaction prices for rebar, merchant bar, and structural products will not change from August pricing levels. Effective with shipments September 1, the company will decrease its Raw Materials Surcharge (RMS) for rebar, merchant bar, and structurals by $43 /nt ($47 /mt or $2.15 cwt.) to reflect the decrease in shredded scrap prices. Nucor will increase base prices for these products by $43 /nt, keeping net prices the same. The new RMS for September shipments will be $73 /nt ($80 /mt or $3.65 cwt.).