Price increases announced by Nucor & Cleveland-Cliffs
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Update time : 2024-08-07 14:49:39
The steel market is showing signs of revival, with recent price hikes announced by industry leaders Nucor and Cleveland-Cliffs indicating a potential end to the recent downturn.
Nucor, headquartered in Charlotte, North Carolina, has raised its CSP hot-rolled coil (HRC) base price to US$690/ton, a US$15 increase from the previous week. This uptick came after a period of declining prices, suggesting a possible market turnaround.
Meanwhile, Cleveland-based Cleveland-Cliffs has implemented a second price increase, targeting US$700/ton for hot-rolled steel. This followed the opening of its September order book and represented a US$30/ton jump from August prices.
