CMC sent a letter to customers late Friday indicating they will raise rebar transaction prices by $1.25 cwt. ($25/nt or $28/mt), effective with all new orders.
By early Monday, Nucor and Steel Dynamics, Inc. released similar price increase letters for rebar. Before the increase, US domestic rebar spot prices were in the range of $36.25-$37.25 cwt. ($725-$745/nt or $799-$821/mt) ex-mill.