Steel Prices
Cleveland-Cliffs Raises Sheet Prices, Seeks $900/ton for HRC
Written by Michael Cowden
October 31, 2023
Cleveland-Cliffs said Tuesday that it would increase spot market base prices for carbon hot-rolled, cold-rolled, and coated steel sheet.
The Cleveland-based steelmaker also said it would seek at least $900 per ton ($45 per cwt) for hot-rolled coil (HRC).
The company said the price hike was effectively immediately in a press release.
Cliffs did not specify the amount of the increase. But the company on Oct. 19 set a minimum base price of $800 per ton for HRC. That implies that Tuesday’s increase is for $100 per ton.
That amount matches the $100-per-ton price hike announced by U.S. Steel on Oct. 26.
Domestic sheet prices have bottomed out and rebounded after falling into the low/mid $600s per ton in late September. Domestic sheet prices have not been at or above $900 per ton since mid-June.
Michael Cowden
Read more from Michael CowdenLatest in Steel Prices
Nucor’s hot band list price holds at $875/ton
Nucor held its hot-rolled coil list price flat again this week, according to its Monday, Sept. 15 consumer spot price (CSP) notice.
Price gap between US CR, most imports widens
Cold-rolled (CR) coil prices ticked lower in the US this week, while prices in offshore markets mostly diverged and ticked higher.
Pig iron market outlook cloudy
The pig iron market in Brazil is currently in flux and there have been few, if any, confirmed cargoes transacted for the US.
USS increases Galvalume coating extras
U.S. Steel has revised its Galvalume coating extras higher effective Nov. 2, 2025. The steelmaker released new extras to customers on Friday, Sept. 12.
CRU Outlook: Global steel sheet prices set to rise, but the near-term uptrend will be limited
Sheet prices are expected to increase in the coming weeks in most markets. However, rising domestic capacity in the US, subdued demand in Europe, and high inventory levels in China and India will limit price near-term uptrend.