Following price increase announcements from CMC and Gerdau earlier this week, Nucor and Steel Dynamics, Inc. issued similar increase letters to customers late Tuesday.
Effective with new orders as of Jan. 11, Nucor and SDI will increase rebar transaction prices by $2.00 cwt. ($40/nt or $44/mt)—the same increase announced by CMC and Gerdau.
This will put US domestic spot prices into the range of $30.75-$32.75 cwt. ($615-$655/nt or $678-$722/mt) ex-mill.