Integrated steelmaker Cleveland-Cliffs has hiked its flat rolled steel prices again by $100/short ton, raising its hot rolled coil (HRC) price minimum to $1,100/st.
The steelmaker made the move this morning. It comes less than a week after its last announcement. All told Cliffs has increased pricing by $460/st since the end of November across seven price announcements.
Other steelmakers have yet to announce their own moves, but during this latest three month upward swing in prices most North American steelmakers have announced similar price moves soon after one another.
The Argus US Midwest HRC ex-works assessment has increased by 43pc since the end of November to $900/st on 21 February, driven by increased spot prices being received at mills and higher offers.
