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According to trade press, domestic long product producers (including industry leader Nucor) are reversing January steel price moves effective immediately, as scrap price gains of $30/ton reversed themselves. Steel prices for beams and merchants are being reduced by the full $30/ton decline in the steel scrap surcharge (or 3-4%), while a $15/ton base steel price increase for rebar, will partially offset the surcharge drop, resulting in a smaller, net transaction steel price drop of $15/ton (or 2%).