Reportedly, Gerdau Long Steel North America announced in a letter to its customer that it will cut its base prices for merchant bars by US$20/ton, effective from May 1st.
The company stated that it decided to cut prices in order to increase levels competition from local and foreign producers. Meanwhile, the Indiana based Steel Dynamics Inc. (SDI) also announced to reduce its prices for wide-flange beams and channels by US$20/ton, effective from May 2nd.