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(AMM) Beam stability hopes fade as tags cut $25/T

June 15, 2010 - 22:56 GMT Location: LOS ANGELES

KEYWORDS: beams , wide-flange , Nucor-Yamato Steel

Expectations of maintaining price stability through July on wide-flange beams have been dashed with Nucor-Yamato Steel Co.'s unexpected $25-per-ton price cut through next month, a move it blamed largely on competitive price cutting.

The Blytheville, Ark.-based producer not only passed through a $5-per-ton reduction in its raw materials surcharge?reflecting AMM's recent cut of the same amount in the consumer buying price for shredded automotive scrap in the Chicago market?it also "immediately" dropped the published price for all products except piling by an additional $20 per ton.

The move would bring the price on the most popular range of beams down to $745 per ton ($37.25 per hundredweight).

Nucor said it was dropping the published price "to address domestic competitor's rebates." The statement's wording left a number of buyers unclear as to whether it was...

All material subject to strictly enforced copyright laws. © Euromoney Institutional Investor PLC.

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