Nucor sent a letter to customers late Tuesday indicating the company will raise domestic rebar prices by $1.00 cwt. ($20/nt or $22/mt), effective with new orders as of Feb. 27, 2019. Also, Commercial Metals Company (CMC) sent a letter to customers on February 25 stating that the mill will increase domestic rebar quotations by $1.00 cwt. ($20/nt or $22/mt), effective immediately. All confirmed orders at the end of February 22 will be price protected if shipped by March 8, CMC announced.
Prior to these announcements, US domestic rebar prices were at $34.50-$35.50 cwt. ($690-$710/nt or $761-$783/mt) ex-mill in the Midwest, and $36.00-$37.00 cwt. ($720-$740/nt or $793-$816/mt) ex-mill on the East Coast.