NEW YORK Nucor Corp. has
lowered its raw materials surcharge on reinforcing bar by $9
per ton (45 cents per hundredweight) and raised its base price
for the product by $9 per ton effective with Feb. 15 shipments,
resulting in no net change in transaction prices, the
steelmaker said in a Feb. 14 letter to customers.
The decline in the surchargebased on
AMMs consumer buying price for shredded
automotive scrap in Chicagois the first since December.
Sideways ferrous scrap prices into the new year kept the
surcharge flat until this month, when scrap prices in the
Chicago market settled down $9 for most grades (
amm.com, Feb. 7).