After waiting to respond to the $1.00 cwt. ($20/nt or $22/mt) rebar transaction price increase announced by CMC, SDI and Gerdau last week, Nucor fell in line with a letter to customers late Monday, announcing its own $1.00 cwt. increase.
Now that Nucor has announced, US domestic rebar spot prices are expected to rise to $41.50-$42.50 cwt. ($830-$850/nt or $915-$937/mt) ex-mill for small to medium-sized buyers, with deals at around $37.00-$38.00 cwt. ($740-$760/nt or $816-$838/mt) ex-mill for larger customers.