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

SMU Price Ranges: HR holds, galv slips amid competing market narratives
SMU’s sheet and plate prices see-sawed this week as hot-rolled (HR) coil prices held their ground while prices for galvanized product slipped.

Nucor carries $875/ton HR list price into week seven
Nucor is keeping hot-rolled (HR) coil prices unchanged again this week, according to its latest consumer spot price (CSP) notice issued on Monday, Oct. 6

Gap between US HR and landed import prices starts to narrow
The price gap between stateside hot band and landed offshore product narrowed this week. Still, with the 50% Section 232 tariff, most imports remain much more expensive than domestic material.

SMU Price Ranges: A newsy week sees modest price gains despite a quiet spot market
Market participants predicted that prices should be at or near a bottom. But while most seemed to agree on that point, many also said they saw little upside given a quiet spot market and ongoing concerns about demand.

Nucor increases plate prices by $60/ton
Nucor aims to increase prices for steel plate by $60 per short ton with the opening of its November order book.