Steel Mills

Cliffs sets $720/ton HR price with opening of August books

Written by Laura Miller

June 25, 2024

Cleveland-Cliffs on Tuesday announced its monthly hot-rolled (HR) coil price of $720 per short ton (st) with the official opening of its August order book. The rate is down from last month’s price of $800/st.

Cliff said in a June 25 letter to customers the HR base price is effective immediately.

“The pricing is valid for all new spot inquiries,” the company said, noting that customers should reach out to their account managers for lead times and availability.

Cliffs’ price is $40/st above the spot HR price of $680/st announced by Nucor on Monday. Recall that Cliffs announces its HR price monthly, while Nucor’s is published weekly.

At SMU’s last market check, we assessed current HR coil spot prices to be $630-740/st, with an average of $685/st.

SMU maintains its mill price announcement calendar to help you keep tabs on announced pricing movements.

Laura Miller

Laura Miller is a reporter and editor for Steel Market Update. She has held a variety of positions within the steel industry since 2007, including reporting and editing for Steel Business Briefing/Platts, the Association for Iron and Steel Technology, and Kallanish Commodities, as well as marketing for what was then known as ThyssenKrupp Steel USA (now AM/NS Calvert). After a five-year hiatus working across other industries, she returned to steel in 2021 and has covered the flat rolled, tubular, and trade areas of the industry. She is a member of the Association of Women in the Metal Industries and a past-president of the AWMI Pittsburgh Chapter. She holds a BA in Latin American Studies from Edinboro University of Pennsylvania. She can be reached at laura@steelmarketupdate.com or 724-759-7869.

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