Cleveland-Cliffs Announces Price Increase For Hot Rolled, Cold Rolled And Coated Steel Products Effective Immediately With All New Orders. Cliffs' Minimum Base Price For Hot Rolled Steel Is Now $800 Per Net Ton
Portfolio Pulse from Benzinga Newsdesk
Cleveland-Cliffs has announced a price increase for its hot rolled, cold rolled, and coated steel products. The price increase is expected to boost the company's revenues and profitability.
October 19, 2023 | 2:58 pm
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POSITIVE IMPACT
The price increase for Cleveland-Cliffs' steel products is expected to positively impact the company's revenues and profitability, potentially leading to a rise in its stock price.
Cleveland-Cliffs' decision to increase the prices of its steel products will likely lead to increased revenues, assuming demand remains stable. This increase in revenues can boost the company's profitability, which is a positive signal to investors and can lead to a rise in the company's stock price.
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IMPORTANCE 80
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