USA: Cleveland-Cliffs hikes prices for major steel products

Cleveland-Cliffs Inc., the largest flat-rolled steel producer in North America, announced that it is increasing the current spot market base prices for its steel products in a public release on 7 March local time.

The new price adjustment covers all its carbon hot-rolled, cold-rolled and coated steel products, effective immediately with all new orders today. Cleveland-Cliffs' minimum base price for hot-rolled steel is now $840 per net ton, as per the release.

The Ohio-based company also is the largest manufacturer of iron ore pellets in North America, vertically integrated from mined raw materials, direct reduced iron, and ferrous scrap to primary steelmaking and downstream finishing, stamping, tooling, and tubing.

Note: This article has been written in accordance with an article exchange agreement between MySteel Global and BigMint.