US minimill steel producer Nucor Corporation has informed customers that effective with shipments October 15, 2009, the firm will lower transaction prices for rebar, merchant bar and structural products, including wide flange beams, by $30/nt ($33/mt or $1.50 cwt.).
This net price decrease will be achieved through a $30/nt decrease to the Raw Materials Surcharge (RMS) applicable to these products effective October 15 while base prices for these products will remain unchanged from October 1 levels. Nucor's RMS for long products, based on Chicago shredded scrap prices, has decreased to $98/nt ($108/mt or $4.90 cwt.) as of October 15, compared to the October 1, 2009 RMS of $128/nt ($141/mt or $6.40 cwt.).
In addition to Nucor's Bar Mill Group products, the $30/nt October 15 net price decrease also applies to WFB products produced by Nucor-Yamato. Nucor-Yamato's fuel surcharges effective November 1, 2009 will be 14 percent, for both truck and rail freight.