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Cleveland-Cliffs Announces Price Increase for Hot Rolled, Cold Rolled and Coated Steel Products
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Rhea-AI Summary
Cleveland-Cliffs Inc. (NYSE: CLF) has announced an increase in spot market base prices for carbon hot rolled, cold rolled, and coated steel products by a minimum of $100 per net ton. This price hike is effective immediately for all new orders, raising the minimum base price for hot rolled steel to $1,000 per net ton. As the largest flat-rolled steel producer in North America, Cleveland-Cliffs serves a diverse range of markets, including the automotive industry. The company is vertically integrated and employs approximately 27,000 people across operations in the U.S. and Canada.
Positive
Increased prices for carbon steel products by a minimum of $100 per net ton.
Minimum base price for hot rolled steel now set at $1,000 per net ton.
Negative
None.
CLEVELAND--(BUSINESS WIRE)--
Cleveland-Cliffs Inc.(NYSE: CLF) today announced that it is increasing current spot market base prices for all carbon hot rolled, cold rolled and coated steel products by a minimum of $100 per net ton, effective immediately with all new orders. Cliffs’ minimum base price for hot rolled steel is now $1,000 per net ton.
About Cleveland-Cliffs Inc.
Cleveland-Cliffs is the largest flat-rolled steel producer in North America. Founded in 1847 as a mine operator, Cliffs also is the largest manufacturer of iron ore pellets in North America. The Company is vertically integrated from mined raw materials, direct reduced iron, and ferrous scrap to primary steelmaking and downstream finishing, stamping, tooling, and tubing. Cleveland-Cliffs is the largest supplier of steel to the automotive industry in North America and serves a diverse range of other markets due to our comprehensive offering of flat-rolled steel products. Headquartered in Cleveland, Ohio, Cleveland-Cliffs employs approximately 27,000 people across its operations in the United States and Canada.
