Tag: Cleveland-Cliffs

Sheet prices rose for a fourth consecutive week following a second wave of price hikes announced by domestic mills.

On the company’s third-quarter earnings call with analysts on Tuesday, Oct. 24, Cleveland-Cliffs executives were careful not to disclose anything about their talks with U.S. Steel on a potential acquisition.

Cleveland-Cliffs says it is taking advantage of higher demand from the automotive sector – its biggest end-use market – this year.

Cleveland-Cliffs posted solid results for the third quarter, with strong steel shipments, particularly to the automotive industry, the steelmaker said in its Q3 earnings report on Monday, Oct. 23.

This week could be a big one for steel, or at least for the steel rumor mill. For starters, there is renewed speculation that an announcement about the U.S. Steel sales process could be in the works. The rumor mill is also churning fast when it comes to the duration of the UAW strike and […]

Well, what a difference a month makes…

U.S. Steel on Thursday said it planned to increase spot base prices for steel sheet by at least $100 per ton ($5 per cwt).

US hot-rolled coil (HRC) prices are now more expensive than imported offshore product.

Cleveland-Cliffs said on Thursday it's targeting a minimum base price for hot-rolled steel of $800 per net ton ($40 per cwt).

Nucor Corp. aims to raise base prices for hot-rolled coil to a minimum of of $800 per ton ($40 per cwt).

If you think prices will continue to rise, you might point to longer lead times and stable order entry.

The US Department of Energy announced seven projects that will receive $7 billion in funding to establish regional hydrogen hubs across the country.

Steel Market Update’s Steel Demand Index remains in contraction territory despite repeated improvements since mid-September, according to our latest survey data.

SMU’s latest survey data are out, and they reflect a consensus among steel buyers that sheet prices have bottomed out and might rebound. Lead times continue to extend. Fewer sheet and plate mills are willing to negotiate lower spot prices. And 70% of survey respondents think prices have already bottomed out or will later this […]

US hot-rolled coil (HRC) and offshore product are nearly back even again after domestic prices moved higher for the second straight week.

The US Department of Commerce has issued its final ruling in an expedited sunset review of antidumping duties on imports of tin mill products from Japan.

Sheet prices moved upward for the second week in a row despite the ongoing UAW strike and concerns in some corners that momentum from a price hike last month might be fading, market participants said.

The US steel market appears to have gone from despairing over the possibility of spot HRC prices slipping into the $500s per ton to worrying about spot availability – and in just a matter of 2-3 weeks.

What has happened since the August hot rolled (HR) settlement ($767 per short ton)?

US hot-rolled coil (HRC) and offshore product are nearing parity again after domestic prices moved higher this week and imports declined again.

Did the price increase announced by Cleveland-Cliffs last week stick? Yes, at least partially.

Cleveland-Cliffs has signed a non-disclosure agreement with U.S. Steel as the latter continues with its strategic review sales process.

Will the sheet price hike announced by Cleveland-Cliffs (and quietly followed by at least some mills) stick?

I didn’t see the Cleveland-Cliffs price increase coming on Wednesday. And I didn’t expect to see a target base price of $750 per ton ($37.50 per cwt) for hot-rolled coil. But I’ve since heard that other mills, even if they hadn’t publicly announced anything, had been quietly raising prices before Cliffs publicized its increase. Are […]

Cleveland-Cliffs is increasing its sheet tags, setting a new base price for hot-rolled coil, effective immediately, the company said in a press release on Wednesday, Sept. 27.

The United Steelworkers International (USW) executive board on Tuesday appointed David McCall as the union’s new international president. He will fill the remainder of Tom Conway’s term.

Tom Conway, international president of the United Steelworkers (USW) union since 2019, has died at age 71.

We’ve been busier than usual lately covering two major events (in addition to our pricing and data services) – the potential sale of U.S. Steel and the United Auto Workers (UAW) union strike. Let’s review some possible developments in each. U.S. Steel Sale – Back in the Headlines We learned last week that Stelco had […]

Cleveland-Cliffs said on Friday its United Steelworkers (USW) union employees at its Northshore Mining operations in Minnesota have ratified a new three-year labor agreement.

Cleveland-Cliffs Inc. and the United Steelworkers (USW) at Cliffs’ Northshore Mine in Minnesota have reached a tentative labor agreement.