Steel Products Prices North America
Cleveland Cliffs Expands Pellet Capacity
Written by Sandy Williams
October 4, 2017
Cleveland Cliffs is now complete owner of Tilden Mining Company located in Ishpeming, Mich. Cliffs purchased U.S. Steel’s 15 percent equity interest in the mine for $105 million.
With the closing of this transaction on Sept. 29, Cliffs added 1.2 million long tons of annual pellet production capacity and 55 million long tons of proven and probable crude iron ore reserves. Pellet sales volume will increase to 20 million long tons in 2018 from an expected 19 million long tons in 2017.
Lourenco Goncalves, chairman, president and CEO, said, “With the current strength in the Great Lakes iron ore pellet market and anticipated future demand from our HBI facility, acquiring additional pellet capacity became a top priority for Cliffs. We have managed Tilden since 1974 and acquiring the remaining interest of the mine became the most logical path to accomplishing this through a riskfree transaction.”
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Products Prices North America
Nucor slows HRC price climb with $5/ton increase
After eight weeks of double-digit price increases on hot-rolled (HR) coil, Nucor slowed the price rise this week with an increase of $5 per short ton.
Domestic CRC prices surge ahead of imports
The price spread between stateside-produced CR and imports reached its widest margin in over a year.
Evraz raises plate prices $160/ton
Evraz North America (NA) has followed Nucor and SSAB with a plate price increase of its own: up $160 per short ton (st). The increase was effective immediately for all new orders of carbon, high-strength low-alloy, and normalized and quenched-and-tempered plate products, as well as for hot-rolled coil, the steelmaker said in a letter to […]
Nucor lifts HR coil to $820/ton
Nucor has increased its consumer spot price (CSP) for hot-rolled (HR) coil for a fourth consecutive week.
Nucor pushes HR spot price to $790/ton
Nucor increased its consumer spot price (CSP) for hot-rolled (HR) coil to $790 per short ton (st) on Monday, Feb. 10 – a $15/st bump vs. last week. The Charlotte, N.C.-based company has raised its weekly CSP by $40/st over the past three weeks after maintaining tags at $750/st since Nov. 12, according to SMU’s […]