In a letter to customers late Thursday, Nucor announced a $20/nt ($1.00 cwt. or $22/mt) transaction price increase on rebar, effective with shipments as of February 1. Additionally, Nucor announced in a separate letter that merchant bar transaction prices will also increase by $20/nt ($1.00 cwt. or $22/mt), effective with shipments as of February 1.
The move follows Gerdau Long Steel North America’s announcement earlier in the week that it would raise rebar and merchant bare prices by $30/nt ($1.50 cwt. or $33/mt)--effective as of January 13.