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(AMM) Nucor cuts prices on long products

July 13, 2010 - 15:30 GMT Location: PITTSBURGH

KEYWORDS: Nucor , rebar , merchant bar , structural steel

Nucor Corp. has reduced transaction prices on rebar, merchant bar and some structural products by $20 per ton ($1 per hundredweight), effective immediately, due to declining scrap prices.

No changes to carbon flat-rolled or plate prices were announced.

The company achieved the moves on long products, according to letters to customers, by reducing June raw materials surcharges by $40 per ton while, at the same time, increasing base prices by $20 per ton, leading to the net effect a $20-per-ton reduction on transaction pricing.

Charlotte, N.C.-base Nucor said in a letter to customers from its Darlington,...

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