Steel Mills

Cliffs maintains $750/ton list price for HR sheet

Written by Laura Miller

October 30, 2024

Cleveland-Cliffs is keeping its market price for hot-rolled (HR) coil flat at $750 per short ton (st) with the opening of its December order book.

That price is unchanged from the steelmaker’s previous price announcement made in September and $20/st higher than August’s notice.

“Although the supply chain has extended destocking through the third quarter, it is not sustainable and the value of our hot-rolled product continues to be reflected in a $750/ton base price,” the steelmaker said in a letter to customers on Wednesday.

The $750/st price applies to all new spot orders.

The letter adds for customers to inquire about lead times and availability.

Cliffs’ published HR base price is $10/st higher than competitor Nucor’s $740/st spot price set at the start of this week. Nucor posts its HR base price weekly, while Cliffs posts its market price monthly.

You can stay up to date on price announcements from North American mills with SMU’s price increase calendar.

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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