In a letter to customers late Friday, Nucor undercut Gerdau Long Steel North America's announcement earlier in the day on concrete reinforcing products by announcing a $15/nt ($0.75 cwt. or $17/mt) transaction price increase--$15/nt less than Gerdau.
Effective February 1, 2012, the Raw Materials Surcharge (RMS) applicable to concrete reinforcing bars will be $308/nt ($15.40 cwt. or $339/mt), representing a $30/nt ($1.50 cwt. or $33/mt) increase compared to the January 1, 2012 surcharge. Additionally, Nucor will drop the base price of rebar products, resulting in a $15/nt transaction price increase.