Steel Mills
Cliffs opens June spot order book at $910/ton HR
Written by David Schollaert
May 22, 2025
Cleveland-Cliffs opened its June order book for spot material at $910 per short ton (st).
The Cleveland-based steelmaker said the price cut was effective immediately, in a letter to customers dated Thursday, May 22.
It marks a $65/st decrease from the company’s previous list price of $975/st, per SMU’s price increase calendar.
The move comes as US hot band prices have been steadily dropping since mid-March. While decreases have slowed, buyers remain cautious. They’re hesitant to hold onto much inventory, citing lingering demand concerns, ongoing tariff uncertainty, and a potentially weakening scrap market in June.
SMU’s current HR coil price range is $790-900/st, with an average price of $845/st. That’s flat from our previous assessment. We also calculated the average lead time for HR sheet to be 4.6 weeks, down from 5.11 weeks in late April.
David Schollaert
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