In a letter to customers Monday, Gerdau announced that effective with shipments as of February 1, 2016, it will increase published prices for merchant bar products by $1.50 cwt. ($30/nt or $33/mt).
The company will also raise published prices for beam products by $1.00 cwt. ($20/nt or $22/mt), also effective February 1.
As of press time, no other mills have joined Gerdau’s move.