In a letter to customers Friday, Nucor announced that it will reduce rebar transaction prices by $25/nt ($1.25 cwt. or $28/mt), effective with shipments on Monday, February 9, 2015.
The company blamed current offers and recent arrivals of imports from Turkey, Japan, Portugal, Spain and Taiwan for the move.
Gerdau Long Steel North America matched the price decrease in a letter to customers Monday.