Although Gerdau Long Steel North America announced late Monday a rebar transaction price increase to match the $1.75 cwt. ($39/mt or $35/nt) boost Nucor announced last Friday, they included a caveat that might prove to be a significant departure from Nucor--instead of rebar prices being effective with shipments as of December 1, 2012, Gerdau's price increase is effective immediately.
Orders already on the books, meanwhile, will be price protected.
Additionally, Gerdau also announced Monday that transaction prices for merchant bar and wide flange beams will also increase by $1.75 cwt. ($39/mt or $35/nt)--also immediately for all new orders.