Nucor and Gerdau announce rebar price increase

Following a $1.00 cwt. ($20/nt or $22/mt) rebar price increase announcement in late October, Nucor and Gerdau announced a second round of rebar price increases today.

 

Effective with new orders as of Nov. 16, rebar transaction prices at both mills will increase by $1.50 cwt. ($30/nt or $33/mt).

 

CMC was the first US domestic rebar mill to announce a second rebar price increase, and now that other mills have followed suit, the new average spot price range for US domestic rebar is $27.50-$29.50 cwt. ($550-$590/nt or $606-$650/mt) ex-mill, depending on the mill and the region.