In a letter to customers Friday, Steel Dynamics, Inc. announced that effective with shipments as of September 14, 2012, the price of all products except rebar will drop by $1.40 cwt. ($28/nt or $31/mt). Rebar prices, meanwhile, will drop by $0.75 cwt. ($15/nt or $17/mt) effective at the same time.
The move follows Nucor's announcement Thursday that it was dropping its long product prices by the aforementioned amounts.