Steel Mills
Cliffs maintains $750/ton list price for HR sheet
Written by Laura Miller
October 30, 2024
Cleveland-Cliffs is keeping its market price for hot-rolled (HR) coil flat at $750 per short ton (st) with the opening of its December order book.
That price is unchanged from the steelmaker’s previous price announcement made in September and $20/st higher than August’s notice.
“Although the supply chain has extended destocking through the third quarter, it is not sustainable and the value of our hot-rolled product continues to be reflected in a $750/ton base price,” the steelmaker said in a letter to customers on Wednesday.
The $750/st price applies to all new spot orders.
The letter adds for customers to inquire about lead times and availability.
Cliffs’ published HR base price is $10/st higher than competitor Nucor’s $740/st spot price set at the start of this week. Nucor posts its HR base price weekly, while Cliffs posts its market price monthly.
You can stay up to date on price announcements from North American mills with SMU’s price increase calendar.
Laura Miller
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