Cleveland-Cliffs Inc. declared that it is raising the existing spot market base prices by a minimum of USD 100 per net ton for all carbon hot rolled, cold rolled, and coated steel goods, effective right away with all new orders. Hot rolled steel now has a minimal basic price of USD 1,100 per ton from Cliffs.
Cleveland-Cliffs made this decision in response to rival Nucor, which had raised the price of flat rolled steel by USD 100 per short ton and set a minimal goal price of USD $1,000 per short ton for hot rolled coil products.
If purchasers agree to the most recent price rise, the HRC market would reach USD 1,000 per short ton for the first time since June.
The materials and information on this article have been prepared or assembled by Viet Nam Steel and are intended for informational purposes only