Steel Mills
Cliffs Raises Sheet Prices $100/ton, Seeks $1,200/ton HRC
Written by Michael Cowden
March 13, 2023
Cleveland-Cliffs aims to increase spot market prices for hot-rolled, cold-rolled, and coated flat-rolled steel by at least $100 per ton ($5 per cwt) effective immediately.
The Cleveland-based steelmaker also said its new minimum base price for hot-rolled coil (HRC) was $1,200 per ton in a press released on Monday, March 13.
That’s up from the $1,100-per-ton target HRC price it announced in late February.
The company has announced six increases totaling $450 per ton since the beginning of the year. The first three were $50 per ton each and the second three $100 per ton each, according to SMU’s price increase calendar.
Recall, too, that Cliffs rolled out its first increase of the year on Jan. 17, up $50 and targeting $800 per ton. That implied Cliffs’ HRC price at the time was $750 per ton. If the company achieves $1,200 per ton, it would represent a 60% gain in less than three months.
SMU’s HRC price stands at $1,075 per ton, up 46% from $735 per ton in mid-January, per our pricing tool. We will next adjust prices on Tuesday evening.
By Michael Cowden, michael@steelmarketupdate.com
Michael Cowden
Read more from Michael CowdenLatest in Steel Mills
CRU: Blackout knocks out ArcelorMittal mill ‘for months’
Truchas works in Lazaro Cadenas, Michoacan, western Mexico. Repairs may take up to six months.
Nippon Steel posts quarterly loss on cost to buy U.S. Steel
Nippon Steel earnings take hit from buy of U.S. Steel.
Atlas completes Evraz NA deal, renames firm, and hires former USS exec as CEO
Atlas Holdings has completed its acquisition of Evraz North America (Evraz NA) and its subsidiaries.
ArcelorMittal: As tariffs slow global growth, Calvert could be a bright spot
ArcelorMittal expects less demand growth across most of the markets it operates in, including the US, because of President Donald Trump’s tariffs. But the Luxembourg-based steelmaker also thinks it stands to benefit from an increasingly regionalized world thanks to investments like the new EAF at its mill in Calvert, Ala.
Ternium posts solid Q2, expects further shipment growth
Latin American steel producer Ternium delivered a solid performance in the second quarter of 2025. Performance was driven primarily by higher realized steel prices in Mexico, even as shipment volumes declined slightly across its regional portfolio.