New Report Preview – Steel Market

According to American Metal Market (AMM), Nucor is raising February transaction prices by the full $30/ton increase in the scrap surcharge for merchant bar (up 4%), wire rod (up 4%) and beams (up 4%), but is reducing base prices for rebar by $15/ton, resulting in a $15/ton increase (up 2%) in transaction prices, undercutting Gerdau’s recently announced $30/ton hike.  AMM cites Nucor’s John Ferriola as saying the smaller hike for rebar was due to an increase in imports, most notably from Turkey.

Nucor raised January prices for beams by $20/ton, rebar and merchants by $30/ton and wire rod by $40/ton.

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