Between late Friday and late Monday, four US domestic rebar mills announced price increases for a variety of amounts.
Nucor led the way Friday with a $1.75 cwt. ($35/nt) increase effective May 2. CMC followed with an effective-immediately price increase of $2.25 cwt. ($45/nt). SDI announced to customers Monday that rebar prices would immediately lift by $2.25 cwt. ($45/nt).
But the most interesting announcement was by Gerdau, which not only announced an immediate $2.00 cwt. ($40/nt) increase across the board, but an additional $1.00 cwt. ($20/nt) increase to the “distribution market.” Sources say the move is an attempt to give the fabrication segment a boost, although the actual aftermath of the unconventional increase has yet to be seen.