Industry News

Cleveland-Cliffs raises US sheet steel prices by $50/st minimum

Update time : 2023-01-18 18:12:17

Ohio-based steelmaker Cleveland-Cliffs announced an increase to base sheet steel prices by a $50/st minimum on all carbon flat-rolled products in a letter sent to customers Jan. 17.
The company said the increase would be effective immediately on all new spot orders of carbon hot-rolled, cold-rolled and coated coil products. The price hike was issued as a result of increases seen in both pricing and volume for the company's automotive steel business, which was "reducing material available to be sold on a spot basis," the company said in its letter to customers.

The steelmaker is now targeting base spot prices for hot-rolled coil starting at $800/st.

The increase also followed Nucor's Jan. 9 announcement of an identical price increase of $50, however Nucor did not include new base price levels.

Previous : Cleveland-Cliffs Raises Prices for Steel Products -- Commodity Comment

Next : CLSA Upgrades Tata Steel, Hindalco as Metals Shine on D-Street; Know Target Price

Overseas alumina prices continue to decline, domestic alumina price difference between north and south China narrows

Jan .24.2025

Overseas alumina prices continue to decline, domestic alumina price difference between north and south China narrows

Entering the Chinese New Year holiday, market trading is sluggish

Jan .24.2025

Entering the Chinese New Year holiday, market trading is sluggish

Trade & Pricing: Europe's billet market trend 2024-2025

Jan .24.2025

Trade & Pricing: Europe's billet market trend 2024-2025

Marcegaglia UK includes new stainless steel tube production at Oldbury facility

Jan .24.2025

Marcegaglia UK includes new stainless steel tube production at Oldbury facility