Cleveland-Cliffs opened its June order book for spot material at $910 per short ton (st).
The Cleveland-based steelmaker said the price cut was effective immediately, in a letter to customers dated Thursday, May 22.
It marks a $65/st decrease from the company’s previous list price of $975/st, per SMU’s price increase calendar.
The move comes as US hot band prices have been steadily dropping since mid-March. While decreases have slowed, buyers remain cautious. They’re hesitant to hold onto much inventory, citing lingering demand concerns, ongoing tariff uncertainty, and a potentially weakening scrap market in June.
SMU’s current HR coil price range is $790-900/st, with an average price of $845/st. That’s flat from our previous assessment. We also calculated the average lead time for HR sheet to be 4.6 weeks, down from 5.11 weeks in late April.
If you often open multiple tabs and struggle to keep track of them, Tabs Reminder is the solution you need. Tabs Reminder lets you set reminders for tabs so you can close them and get notified about them later. Never lose track of important tabs again with Tabs Reminder!
Try our Chrome extension today!
Share this article with your
friends and colleagues.
Earn points from views and
referrals who sign up.
Learn more