Nucor follows $40/st US rebar price increases

Pittsburgh — Nucor said it would raise rebar prices following rebar price hikes from several other major US producers, according to a letter sent to customers.

The steelmaker announced a $40/st increase on its base transaction price for No. 4 to No. 11 rebar, which is effective with new orders on May 3.

All confirmed orders as of the close of business on April 30 would be price protected if shipped before May 15, according to the letter.

CMC, SDI and Gerdau had all issued identical price increases the week ended April 30 amid ongoing supply tightness in the US market.

The moves mark the third round of rebar price increases in 2021, with the three rounds totaling $120-$130/st depending on the producer. Rebar prices have increased significantly since September 2020, rising by nearly 45% over that timeframe.