Steel Products Prices North America
Cleveland-Cliffs Puts HBI Construction on Hold
Written by Sandy Williams
March 20, 2020
Cleveland-Cliffs has temporarily shut down construction activity at its hot-briquetted iron (HBI) site in Toledo, Ohio, due to the COVID-19 virus.
All construction at the site will cease at the end of the business day on March 20 until further notice. Cleveland-Cliffs’ iron ore mining and steelmaking facilities will continue operations.
The Toledo plant is nearing completion and a June 2020 start-up will now be delayed. Cliffs anticipates the new facility will have a nominal capacity of 1.9 million metric tons of HBI per year.
Commenting on the temporary shutdown, Key Bank analyst Phil Gibbs said,” We expect other players in the metals and mining supply chain to further stagger or delay growth capex projects in an effort to protect workforces and preserve corporate liquidity amidst challenging near-term demand trends.”
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Products Prices North America
Nucor lifts HR coil to $820/ton
Nucor has increased its consumer spot price (CSP) for hot-rolled (HR) coil for a fourth consecutive week.
Nucor pushes HR spot price to $790/ton
Nucor increased its consumer spot price (CSP) for hot-rolled (HR) coil to $790 per short ton (st) on Monday, Feb. 10 – a $15/st bump vs. last week. The Charlotte, N.C.-based company has raised its weekly CSP by $40/st over the past three weeks after maintaining tags at $750/st since Nov. 12, according to SMU’s […]
ArcelorMittal Dofasco increases spot sheet prices
ArcelorMittal Dofasco is raising spot sheet prices by CA$100 per ton (US$70/ton). The Hamilton, Ontario-based flat rolled steelmaker told customers the increase is effective immediately for all new orders. It did not specify to what level this brings its base prices but noted its right to re-quote previous but unconfirmed orders. “We will continue to […]
Nucor raises HR spot price to $775/ton
Nucor increased its consumer spot price (CSP) for hot-rolled (HR) coil to $775 per short ton (st) on Monday, Feb. 3. The $15/st week-on-week (w/w) rise marks the first back-to-back increases in the steelmaker’s weekly CSP since last August, according to SMU’s mill price announcement calendar. Nucor’s joint-venture subsidiary California Steel Industries (CSI) is also up […]
Nucor raises HR spot price to $760/ton
Nucor increased its consumer spot price (CSP) for hot-rolled (HR) coil to $760 per short ton (st) on Monday, Jan. 21. The $10/st week-on-week (w/w) rise marks the first increase in the CSP since Nov. 12. According to SMU’s mill price announcement calendar, the Charlotte, N.C.-based steelmaker held the weekly price at $750/st for 11 […]