NEW YORK Nucor Corp. has
lowered its base price for merchant bars and structural
products by $41 per ton and its raw materials surcharge by $9
per ton effective with Feb. 15 shipments, for a total drop of
$50 per ton ($2.50 per hundredweight), the steelmaker said in a
Feb. 14 letter to customers.
The Charlotte, N.C.-based
steelmaker reduced its base price "in order to better respond
to market conditions," such as imports and domestic
discounting, it said.
The drop in the scrap surchargebased on
AMMs consumer buying price for shredded
automotive scrap in Chicago, which settled down $9 per ton
earlier this month (
amm.com, Feb. 7)is the first since December.
The mills scrap surcharge for March is $215 per ton
($10.75 per hundredweight).