Gerdau Long Steel North America raised prices on rebar $25/st, according to a letter sent to customers Thursday.
The increase will be effective on all new orders as of Friday. Orders confirmed by Thursday will be price-protected if shipped before December 30.
This hike follows $25/st increase announcements from Commercial Metals Co. and Nucor on Wednesday, and Steel Dynamics Inc. on Thursday morning.
These latest rounds of increases were expected by the market given the lack of competitively priced imports and a domestic scrap market buy week that looks to be settling up $30-$45/lt.
