In a letter to customers late Thursday, Nucor announced it will be raising prices on rebar by $1.25 cwt. ($25/nt or $28/mt), effective with new orders as of December 2, 2016.
The company added that all confirmed orders as of the close of business on December 1, 2016 will be price protected if shipped before January 1, 2017.
Today, SDI and CMC responded with similar price increases for rebar. Sources say market absorption of the increase is expected to be swift, and as such, by next week US domestic rebar spot prices should lift into the range of $28.75-$30.75 cwt. ($575-$615/nt or $634-$678/mt) ex-mill.
Today, SDI and CMC responded with similar price increases for rebar. Sources say market absorption of the increase is expected to be swift, and as such, by next week US domestic rebar spot prices should lift into the range of $28.75-$30.75 cwt. ($575-$615/nt or $634-$678/mt) ex-mill.