Core Report | August 26, 2022

Cleveland-Cliffs announced a fresh price increase this week on the back of Nucor’s $50/ton price increase in early August. Issuing a $75/ton ($3.75/cwt) increase on all carbon steel hot rolled, cold rolled and coated steel products, effective immediately. This marks the first time Cliffs has attempted to increase sheet prices since March 16th. Much like Nucor, Cliffs is aiming for a hot-rolled coil price around $900/ton.