Cleveland-Cliffs Increases Current Spot Market Base Prices For All Carbon Hot Rolled, Cold Rolled And Coated Steel Products, Effective Immediately; Says Company's Minimum Base Price For Hot Rolled Steel Is Now $750 Per Net Ton
Portfolio Pulse from Benzinga Newsdesk
Cleveland-Cliffs has announced an immediate increase in current spot market base prices for all carbon hot rolled, cold rolled and coated steel products. The company's minimum base price for hot rolled steel is now $750 per net ton.
September 27, 2023 | 11:11 am
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POSITIVE IMPACT
Cleveland-Cliffs' decision to increase the base prices for its steel products could potentially boost its revenues in the short term, assuming demand remains stable.
The increase in base prices for Cleveland-Cliffs' steel products means that the company will earn more per unit sold. This could potentially increase the company's revenues and profitability in the short term, assuming that the demand for its products remains stable. This could have a positive impact on the company's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100