Gerdau Long Steel North America is raising published prices for most beam products $40/st ($2.00/cwt), effective with new orders January 30.
The increase is an effort to recover escalating raw material production costs, Gerdau said in a letter sent to customers Tuesday.
"This price increase is a result of AMM Chicago Shred scrap prices rising over $100/st in 2016, while the published price of beams has only increased a net of $35/st, Gerdau said.
Orders confirmed by January 27 will be price protected if shipped before March 1, the company said.
Following the increase, Gerdau's list price for medium wide flange beams will be $755/st ($37.75/cwt). This is up from a list price of $715/st ($35.75/cwt) set in December when US mills announced a $35/st increase in beam products. US producers previously announced a $30/st increase in beam products in November.
