In a letter to customers late Friday, Nucor announced it would be reducing published prices for merchant bar, structural, and beam products. Steel Dynamics announced a similar price decrease for beams Friday; the company reduced merchant bar prices by the same amount in early April.
Effective Monday, April 20, 2020, prices for merchant bar, structural products, wide flange and standard I-beams will decrease by $1.25 cwt. ($25/nt or $28/mt).
Nucor and Steel Dynamics both attributed the decrease to the Covid-19 outbreak, particularly the impact of current restrictions on downstream businesses. Nucor added that it believes “underlying demand for our products remains intact once we get beyond this current situation.”
Published prices for the benchmark wide flange beam product (W 10x10 49-112) is now $35.25 cwt. ($705/nt or $777/mt) ex-mill.
Published ex-mill prices for benchmark merchant bar products are now as follows:
| Shape/Size | cwt. | net tons | metric tons |
| Flat bar 2 x 1/4”: | $35.15 | $703 | $775 |
| Angle 2 x 2 x 1/4”: | $33.80 | $676 | $745 |
| Square bar 1”: | $33.75 | $675 | $744 |
| Round bar 1”: | $35.20 | $704 | $776 |
| Channels standard C 3 x 4.1 | $34.75 | $695 | $766 |