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(AMM) Gerdau Ameristeel follows hikes in rebar base prices, surcharges

March 10, 2010 - 21:11 GMT Location: CHICAGO

KEYWORDS: Gerdau Ameristeel , rebar , base , surcharges

Gerdau Ameristeel Corp. on Tuesday announced an immediate $25-per-ton transaction price increase on its rebar products, following the same step Nucor Corp. took late Monday.

Tampa, Fla.-based Gerdau Ameristeel is also following Nucor's planned April 1 raw material surcharge increase of $50 per ton. The higher surcharge will impact rebar, merchant bars (angles, flats, rounds and squares), wide-flange beams, standard I-beams, piling products and bantam beams, it said in letters to customers.

"It's hard to understand why the price increases while demand remains weak. We are seeing more bidding activity this month with state transportation departments, but it is not enough to get our...

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