Although major US domestic rebar mills including CMC, SDI and Gerdau last week announced a $2.50 cwt. ($50/nt or $55/mt) price increase for all new rebar orders, Nucor waited until late Friday to announce their own price increase, for $2.00 cwt. ($40/nt or $44/mt).
Before Nucor’s announcement, US domestic rebar spot prices were in the range of $40.50-$41.50 cwt. ($810-$830/nt or $893-$915/mt) ex-mill.