In a letter to customers Friday, Gerdau Long Steel North America said that it will "remain committed" to the $20/nt ($1.00 cwt. or $22/mt) rebar transaction price increase announced November 4, even as Nucor Corp. undermined it with their own $10/nt ($0.50 cwt. or $11/mt) rebar increase announced the next day.
However, due to the "competitive market conditions", Gerdau will extend its price-protected deadline for already-confirmed orders to November 30 instead of November 15 as previously stated.