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After announcing net transaction price cuts for rebar and beams of $20/ton and $30/ton yesterday, Nucor is now reducing merchant bar list prices by a total of $110/ton effective immediately, according to American Metal Market.  However, the company wasn’t selling anywhere near list prices, so the real reduction is only $30/ton… more.

Our full report provides further thoughts about domestic and global steel prices as well as the implication for steel equities.

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