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

Nucor sees sequentially lower Q3 profits across all three business segments
Nucor's third-quarter earnings will be down quarter-over-quarter, but still higher than a year earlier.

Hyundai still on for Louisiana steel mill despite US raid at Georgia battery plant
Hyundai has reaffirmed its commitment to build a steel plant in Louisiana following a US government immigration raid at its battery facility in Georgia.

Hybar lowers output forecast, owning up to EAF startup delay
Hybar LLC’s rebar mill in Osceola, Ark., is now melting scrap and will soon be fulfilling orders, according to CEO David Stickler, despite a six-to-eight-week delay caused by commissioning the world’s first Aura electrical system.

Steel Dynamics guides to more metal, more money in Q3
Steel Dynamics Inc. is bullish heading into the close of the third quarter, with all three of its operating segments tracking higher.

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.