Cleveland-Cliffs Announces Additional Price Increase for Hot Rolled, Cold Rolled, and Coated Steel Products
December 13 2022 - 1:22PM
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. Cliffs’
minimum base price for hot rolled steel is now $750 per net ton.
This additional price increase is in response to market feedback
following the Company’s November price increase, as well as
improving dynamics in the raw materials and distribution
markets.
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. We are the
largest supplier of steel to the automotive industry in North
America and serve 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/20221213005954/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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