Steel Prices

Cliffs seeks $800/ton for HR with opening of July books

Written by Michael Cowden

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

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