In a letter to customers late Friday, Gerdau Long Steel North America announced it will increase rebar transaction prices for Texas mills by $1.00 cwt. ($20/nt or $22/mt), effective immediately.
As of press time, no other mills have followed suit.
Before the announcement, US domestic rebar spot prices were in the range of $41.50-$42.50 cwt. ($830-$850/nt or $915-$937/mt) ex-mill for small to medium-sized distributors, with large distributors reportedly paying “no less” than $39.00 cwt. ($780/nt or $860/mt) ex-mill as of last week.