Gerdau and Nucor are cutting down prices of certain steel beam products. The prices were cut down by US$40/st. Nucor decreased the prices for most of its wide flange products for US$40/st. The company also reduced prices of most merchant and structural products by US$25/st. The reasons to justify the dropping in prices are due to domestic competition, dropping in raw material prices and the pressure from imports.

Gerdau also decreased prices for most wide flange and standard beam products by US$40/st. In addition, a US$20/st stock charge on beam product inventory is taking out. Gerdau also cut down prices of most angles, channels, flats, rounds and squares by US$25/st. The reasons for reducing prices are due to falling scrap and raw material prices. Scrap prices will decrease further by around US$20/gt for May.