Steel Prices
Cliffs opens January HR book, holds published price at $750/ton
Written by Michael Cowden
December 3, 2024
Cleveland-Cliffs said it would keep its published price for hot-rolled (HR) coil at $750 per short ton (st) with the opening of its January order book.
“As we turn the page into 2025, we are monitoring contractual bookings and overall drivers in market demand that indicate increased booking requirements from the client base,” the steelmaker said in a letter to customers on Tuesday.
Cleveland-based Cliffs has officially had spot HR prices at $750/st since mid-September, according to SMU’s mill price announcement calendar. Nucor, its Charlotte, N.C.-based EAF competitor, has officially held spot HR prices at $750/st since mid-November.
Spot prices, as tracked by SMU, have fluctuated within a narrow range throughout the fall and have remained significantly below those levels.
Michael Cowden
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