Nucor surprises customers with unchanged longs prices

Nucor's bar mill group has announced to customers that its raw materials surcharge (RMS) for rebar, merchant bar, and structural orders shipped during the month of December 2006 will decrease by $15 /nt, while base prices for these products will increase by the same amount. The net result is that transaction prices for these products will remained unchanged. Nucor's RMS for December will be $2.90 cwt. ($58 /nt or $64 /mt), compared to the November surcharge of $3.65 cwt. ($80 /mt or $73 /nt). The December RMS dropped by $15 /nt from November's RMS, roughly the same amount shredded scrap prices have fallen in the last month. The decrease in RMS and increase in base prices will be effective as of December 1, 2006.