Nucor Bar Mill Group has raised prices for bar stock

Nucor Bar Mill Group, a division of the American steel producer Nucor, announced last week that it was raising prices on structural steel products. Kallanish reported this, citing a letter the company sent to its customers.

According to the report, the price increase amounts to $40–60 per short ton for channels, angles, and steel strip.

The price increase applies to new orders received after March 25. All confirmed orders as of the close of business on that date are protected by the previous price, provided they are shipped by April 8. The Nucor Bar Mill Group announcement notes that the company reserves the right to review and re-quote any offers for which the sale has not been approved by Nucor or by written agreement of both parties.

As a reminder, on March 23, Nucor again raised the spot consumer price (CSP) for hot-rolled coil by $10 per short ton compared to the previous week—the new offer price was $1,025/ton.

As reported by GMK Center, last week Gerdau Long Steel North America announced price increases for certain types of merchant bar products. The increases apply to specific grades of angles, channels, and steel strip. Depending on the product type, prices will rise by $40/ton and $60/ton. The new terms take effect for all new orders. The company reserves the right to adjust its pricing policy as necessary.