Steel Prices
Cliffs seeks $800/ton for HR with opening of July books
Written by Michael Cowden
May 23, 2024
Cleveland-Cliffs is seeking at least $800 per short ton (st) for hot-rolled (HR) coil with the opening of its July order book.
The Cleveland-based steelmaker said the move was effective immediately in a letter to customers on Thursday, May 23.
Recall that Cliffs announced in April that it would publish a monthly HR price. The company’s announcement on Thursday represents a $50/st decrease from its published price of $850/st last month.
Despite that decrease, Cliffs is still $30/st higher than Nucor’s published spot HR price of $770/st.
Note that Nucor, unlike Cliffs, updates its published spot HR price weekly. You can keep track of it all with our mill price announcement calendar, which is here.
Michael Cowden
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