Nucor and Steel Dynamics are pushing $10/st price increases for rebar effective immediately with new orders, the companies said in letters to customers Monday and Tuesday, respectively.
Both said orders confirmed December 2 would be price-protected if shipped by December 31.
A Midwestern rebar fabricator said the justification for the price increase includes "all of the above," referring to higher scrap prices in the past month, increased demand and the trade case against Turkish and Mexican rebar producers. He said work this December is about double what it was December of last year.
Gerdau also increased rebar prices $20/st for new orders in an announcement November 1, while competitors Nucor, SDI and Commercial Metals opted for a net increase of $10/st.
The rebar fabricator said he believes prices will get a boost with this latest round of $10/st price increases -- although he believes there will be room for negotiation.
