In a letter to customers late Friday, Nucor said it will raise transaction pries on rebar by $1.50 cwt. ($33/mt or $30/nt), effective with all new orders received Nov. 23, 2020.
On Monday, CMC and Steel Dynamics, Inc. released similar price increase announcements. Although buying activity is expected to be muted this week due to the Thanksgiving holiday, sources expect the full increase to absorb into the market when activity resumes next week.