Friday, March 19, 2010

Nucor (NYSE:NUE) Raising SBQ Prices

Nucor Corporation Raising Special Bar Quality Prices

Nucor Corporation (NYSE:NUE) communicated to its customers on Thursday they will be increasing the price of special bar quality (SBQ) products by $30 a ton starting with shipments leaving May 1.

Other companies have made similar announcements this week, with some products going as high as $40 a ton, such as alloy heat-treated and quench-and-tempered cold-finished bars produced by Gerdau Macsteel.

Demand has been largely the reason behind the increased prices, along with low supply. Another factor is the higher cost of raw materials to produce the various products.

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