In an attempt to stem falling sheet prices in the US, flatrolled steelmaker Cleveland-Cliffs announced a minimum $50/short ton spot price increase for April orders.
“A stronger inflow of new orders” necessitates the increase on hot rolled, cold rolled, and coated sheet products, the company says in a statement.
The announcement comes as the price of hot rolled coil has been plummeting in the US market, Kallanish notes. As of last week, HRC spot prices…
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