About The Announces Price Increase For Carbon Steel Products Of CLF Stock

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Cleveland-Cliffs Inc is formerly Cliffing Natural Resources Inc., which is a mining and natural resources company. The CLF stock at https://www.webull.com/quote/nyse-clf company is a supplier of iron ore pellets to the North American steel industry from its mines and pellet plants located in Michigan and Minnesota. This company is operating through its U.S. Iron Ore. This CLF stock company has owned four operational iron ore mines and one indefinitely idled mine. Cleveland-Cliffs Inc. (NYSE: CLF)  today announced that its wholly-owned subsidiary, AK Steel, is increasing current spot market base prices for all carbon flat-rolled steel products by a minimum of $40 per ton. It is effective immediately with new orders in North America.

About Cleveland-Cliffs

  • It was founded in 1847 that is among the largest vertically integrated producers of differentiated iron ore and steel in North America.
  • Cleveland-Cliffs is uniquely positioned to supply both customized iron ore pellets and sophisticated steel solutions to a quality-focused customer base, with an industry-leading market share in the automotive industry.
  • A commitment to environmental sustainability is core to our business operations and extends to how we partner with stakeholders across our communities and the steel value chain.
  • Headquartered in Cleveland, Ohio, Cleveland-Cliffs employs approximately 12,000 people across mining and steel manufacturing operations in the United States, Canada, and Mexico.

Prices For Carbon Steel Products

  • Cleveland-Cliffs (CLF +0.4%) says its AK Steel subsidiary has raised current spot market base prices for all carbon flat-rolled steel products by a minimum of $40/ton with new orders in North America.
  • S. Steel (X -4.2%) and ArcelorMittal (MT -1.3%) also are raising sheet prices by $40/ton, Cowen analyst Tyler Kenyon says.
  • While this is the second attempt by U.S. sheet mills this month is raise priced. Kenyon believes higher scrap that attractive discounts on contracts, and improving demand as customers reopen likely will at least support pricing/lead times over the next 30 days.

Cleveland-Cliffs To Raise Flat-Rolled Steel Prices

  • This AK Steel subsidiary is an increasing spot market that is base prices for all carbon flat-rolled steel products by a minimum of $40 per ton, effective immediately.
  • These prices are rising by at least 4%, as the iron ore mining company said the average net selling price per net ton of flat-rolled steel during the first quarter was $997.
  • The CLF stock was up 0.4% in afternoon trading, has lost 33.7% over the past three months, while the S&P 500 SPX, +0.23%has declined 11.7%.

                                                                               
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