CMC, Gerdau raise rebar prices by $60-100/ton

Irving, Texas-based CMC said it would raise rebar prices from its East Division mills in South Carolina, Florida, Tennessee, and New Jersey by $60/ton. Twenty-foot lengths will see an increase of an additional $40/ton.

The company added that orders that had been placed by the close of business on Thursday, June 5, would be kept at pre-increase levels if shipped by June 19.

Gerdau Long Steel North America, meanwhile, said it would raise US rebar prices by $60/ton. Twenty-foot lengths will go up by an additional $40/ton.

The company said orders confirmed by the close of business on Friday would be protected at pre-increase levels if shipped by June 22.

“We will continue to monitor the market to ensure that Gerdau and its partners are on a competitive playing field and reserve the right to make adjustments to our pricing policy as needed,” Gerdau added in its letter to customers.