US longs leader Nucor Bar Mill Group has announced to customers that effective with shipments March 13, 2009, Nucor’s raw materials surcharge (RMS) applicable to rebar, merchant bar and structural products will be $23 /nt ($25.35 /mt or $1.15 cwt.), which represents a decrease of $25 /nt ($27.56 /mt or $1.25 cwt.) compared to the February 17, 2009 surcharge.
In addition to the new RMS taking effect on March 13, Nucor will keep base prices for rebar unchanged. Thus, the transaction pricing for rebar will decrease by 25 /nt ($27.56 /mt or $1.25 cwt.).
On the other hand, base price for merchant bars and structural products will increase by $25 /nt ($27.56 /mt or $1.25 cwt.). The net effect of this move is that transaction pricing for merchant bar and structural products will remain unchanged.