Steel Prices
Cliffs seeks $800/ton for HR with opening of July books
Written by Michael Cowden
May 23, 2024
Cleveland-Cliffs is seeking at least $800 per short ton (st) for hot-rolled (HR) coil with the opening of its July order book.
The Cleveland-based steelmaker said the move was effective immediately in a letter to customers on Thursday, May 23.
Recall that Cliffs announced in April that it would publish a monthly HR price. The company’s announcement on Thursday represents a $50/st decrease from its published price of $850/st last month.
Despite that decrease, Cliffs is still $30/st higher than Nucor’s published spot HR price of $770/st.
Note that Nucor, unlike Cliffs, updates its published spot HR price weekly. You can keep track of it all with our mill price announcement calendar, which is here.
Michael Cowden
Read more from Michael CowdenLatest in Steel Prices
HR Futures: Financial players bullish on price, physical market participants not
We can interpret that managed money still has expectations of price strength while physical participants are running closer to a balance on a net basis.
Doubled S232 tariff holds US HR prices below EU
David Schollaert presents this week's analysis of hot-rolled coil prices, foreign vs. domestic.
SMU Price Ranges: Sheet and plate steady ahead of Independence Day
Sheet and plate prices were little changed in the shortened week ahead of Independence Day, according to SMU’s latest check of the market.
Miller on Raw Materials: Are more DRI investments coming to the US?
Will more DRI investment come to the US?
Nucor maintains plate prices, opens August order book
Nucor aims to keep plate prices flat again with the opening of its August order book.