US rebar mills have announced price increases late Friday and today, although the increase amounts are not uniform.
Nucor announced late Friday a $2.50 cwt. ($55/mt or $50/nt) price increase effective with new orders as of today, June 14.
However, CMC issued a price increase around the same time, for $4.00 cwt. ($88/mt or $80/nt), effective immediately. Steel Dynamics, Inc. and Gerdau also announced a $4.00 cwt. rebar price increase early today.
Sources tell SteelOrbis that Nucor will most likely follow the other mills with $4.00 cwt. instead of $2.50 cwt.