Cleveland-Cliffs Announces Price Increase for Hot Rolled, Cold Rolled, and Coated Steel Products
January 17 2023 - 7:00AM
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 $50
per net ton, effective immediately with all new orders.
To begin 2023, Cliffs has seen increases in both pricing and
volume for its automotive steel business, reducing material
available to be sold on a spot basis. This latest price increase is
in response to this dynamic.
Cliffs’ minimum base price for hot rolled steel is now $800 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20230117005445/en/
MEDIA CONTACT: Patricia Persico Senior Director,
Corporate Communications (216) 694-5316
INVESTOR CONTACT: James Kerr Manager, Investor Relations
(216) 694-7719
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