Nucor Bar Mill Group has announced that, effective for merchant bar and structural product orders as of October 13, the company will reduce its raw materials surcharge (RMS) applicable to long products by $130/nt ($143/mt or $6.50 cwt.) compared to its September 10 surcharge, while raising base prices for merchant bars and structural products by $50/nt ($55/mt or $2.50 cwt.).
The net result of these pricing moves is that transaction prices for merchant bars and structural products will decrease by $80/nt ($88/mt or $4.00 cwt.).
As SteelOrbis has reported, Nucor's rebar prices will drop by the full $130/nt of the RMS decrease as of October 10.