In a letter to customers late Thursday, Gerdau Long Steel North America announced an increase in rebar transaction prices of $1.25 cwt. ($25/nt or $28/mt), effective with new orders received Dec. 8, 2017.
The announcement follows the $1.25 cwt. rebar price increase announced by Nucor and CMC earlier this week. Current spot price for US domestic rebar, including the increase, are now in the range of $34.25-$35.25 cwt. ($685-$705/nt or $755-$777/mt) ex-mill.