Steel Mills

Cliffs moves sheet prices up by $60/st, seeks $900/st HRC
Written by David Schollaert
March 27, 2024
Cleveland-Cliffs aims to increase sheet prices by $60 per short ton (st) and is seeking a new target base for hot-rolled coil (HRC) of $900/st.
That’s according to a press release circulated on Wednesday morning, March 27.
Cliffs said the move was effective immediately on all new orders. The increase applies equally to cold-rolled and coated products.
The latest move by the Cleveland-based steelmaker comes roughly three weeks after Cliffs, Nucor, and ArcelorMittal all set new target minimums for HRC, according to SMU’s steel mill price increase calendar.
SMU’s HRC price stands at $810/st on average, according to our check of the market on March 26. Tags were up $15/st from last week, according to our pricing tool.
The move was in line with what most in the market had told SMU over the past week. Namely, the first price notice in early March would stabilize prices followed by another round of increases to move them higher.

David Schollaert
Read more from David SchollaertLatest in Steel Mills

AHMSA opens doors to potential buyers as $1.3B asset auction nears
AHMSA is opening its doors to potential buyers to tour its steel plant and mining operations in northern Mexico in preparation for the next stage of its bankruptcy process: the auction of its assets.

USW seeks clarity on USS plans for Granite City Works
The United Steelworkers union has asked U.S. Steel to elaborate on its Granite City Works plans following reports that the steelmaker is ending processing at the facility.

Nucor maintains plate prices, opens October order book
Nucor aims to keep plate prices flat for a seventh straight month with the opening of its October order book.

ArcelorMittal Mexico to import from sister mills as it works to resume DRI production
ArcelorMittal has partially restarted operations at its direct reduction plant in Lazaro Cardenas, Michoacan. An explosion on Aug. 18 rocked the massive steelworks on Mexico’s Pacific coast, impacting production of direct-reduced iron (DRI).

Fall maintenance outages are coming in hot
Labor Day has passed, the sun is starting to set a little earlier each day, and cooler weather has begun to find its way down to many of us across North America. And you know what that means for the steel industry… Fall maintenance outages!