Nucor, Gerdau lower bar prices by $15 /nt

Nucor Steel's bar mill group has announced that it is lowering its raw material surcharge (RMS) by $15 /nt for its rebar and merchant bar products and will not alter its base prices. This decision will result in a $15 /net ton (nt) net decrease in transaction prices for these products. The pricing change was effective with shipments beginning from October 12. Nucor-Yamato has announced that to counteract the $15 /nt decrease in RMS, it will increase base prices by the same amount, so that the net transaction prices for its wide flange beams will remain at last month's levels. Gerdau Ameristeel also announced this week that it will decrease transaction prices for its rebar and merchant bar products by $15 /nt, excluding wide flange beam pricing, which will not change from last month. Gerdau's pricing decrease was also effective with shipments from October 12.