Steel Mills
Cliffs opens June spot order book at $910/ton HR
Written by David Schollaert
May 22, 2025
Cleveland-Cliffs opened its June order book for spot material at $910 per short ton (st).
The Cleveland-based steelmaker said the price cut was effective immediately, in a letter to customers dated Thursday, May 22.
It marks a $65/st decrease from the company’s previous list price of $975/st, per SMU’s price increase calendar.
The move comes as US hot band prices have been steadily dropping since mid-March. While decreases have slowed, buyers remain cautious. They’re hesitant to hold onto much inventory, citing lingering demand concerns, ongoing tariff uncertainty, and a potentially weakening scrap market in June.
SMU’s current HR coil price range is $790-900/st, with an average price of $845/st. That’s flat from our previous assessment. We also calculated the average lead time for HR sheet to be 4.6 weeks, down from 5.11 weeks in late April.
David Schollaert
Read more from David SchollaertLatest in Steel Mills
Granite City Works must remain open and other terms of the Nippon-USS deal
SEC documents also name Trump specifically as having veto power certain decisions are part of the “Golden Share” provision.
USS shuffles some leadership roles after close of Nippon deal
USS shuffles leadership deck after deal closes with Nippon.
ArcelorMittal fires up steelmaking at Calvert mill
With the marking of the EAF’s first heat earlier this month, the mill has moved from a rerolling and finishing mill to a full steelmaking facility.
Nucor gives update on cyberattack, no ‘material impact’
Nucor gives update on cyberattack from May.
CMC upbeat on steel margins, growth outlook, and construction resilience
CMC entered the back half of its fiscal year with improving steel margins, steady rebar demand, and confidence in long-term construction fundamentals