It’s reported that the major steelmakers in the US, including Nucor, Commercial Metals Company and Gerdau North America recently announced to cut prices for section steel products by US$20/short ton.
It’s known that the steelmakers decided to cut prices for section steel products by US$22/short ton for April as scrap prices have decreased by US$22/short ton since this April. However, they increased the base prices for section steel products by US$2/short ton in order to improve profits. Accordingly, the total price cut for section steel products was at US$20/short ton. Also, the lower raw material prices, weak demand and increased imports have also led the steelmakers to cut prices for section steel products.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=63913&division=A4
