Tel : 0086-0371-86172891
Tel : 0086-0371-86172891
Based on our understanding, Cleveland Cliffs in the United States has issued a notice announcing an increase in benchmark prices for all new orders of hot coils, cold coils, and coatings.
According to this price increase, the minimum benchmark price for Cleveland Cliffs hot coils in the United States will be raised to $1150 per ton. Cleveland Cliffs last raised prices on December 6, 2023, when the benchmark price for hot coils was raised to $1100 per ton DX51D+ZA steel.
We have learned that since early December, the ex factory price of American hot coils has remained stable at around $1200 per ton EXW. But since early December, US hot coil spot trading has been showing a lukewarm trend, with buyers cautiously restocking. However, due to the current decrease in buyer inventory, it is expected that there will be a small amount of restocking in the future DX51D+ZA steel.
Supported by the price increase news, Brazilian slab exporters have also recently raised their prices again. Currently, the Brazilian slab price is approximately USD 710-715/ton FOB, compared to USD 700-715/ton FOB last week. At present, the orders for Brazilian slab in February are doing well, and there is almost no FOB quotation of $700/ton in the Brazilian slab market. We have heard that if the transaction is still good in the short term, some Brazilian exporters plan to raise the slab quotation to $750/ton FOB DX51D+ZA steel.
