Tel : 0086-0371-86172891
Tel : 0086-0371-86172891
According to our understanding, Cleveland Cliffs in the United States plans to raise the benchmark price of hot-rolled steel coils to $900 per ton this week and immediately implement new benchmark prices for all new orders.
Cleveland Cliffs also stated that they plan to raise the benchmark prices for all new types of carbon cold rolled DX54D+ZF steel coils and DX54D+ZF coated steel, and there is currently no clear minimum benchmark price.
This is Cleveland Cliffs' second price adjustment announcement since October 19, 2023. On October 19, Cleveland Cliffs announced the adjustment of the minimum benchmark price for hot-rolled steel coils to $800 per ton.
Last week (October 26, 2023), American Steel Company and Dahe Steel Company increased the benchmark price of hot-rolled steel coils by $100 per ton. Market participants predict that the two manufacturers' goal is to increase the price of hot-rolled steel coils to $900 per ton and hot-dip galvanized DX54D+ZF steel to $1100 per ton.
At present, the mainstream price of hot-rolled steel coils in the US market is about 850 US dollars per ton, and there is a shortage of spot supply. In the short term, the price of hot-rolled steel coils in the US is still likely to rise further.
