Cleveland-Cliffs Announces Price Increase for Hot Rolled, Cold Rolled and Coated Steel Products; Minimum Base Price For Hot Rolled Steel Is Now $1,000 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 minimum base price for hot rolled steel is now $1,000 per net ton.
November 07, 2023 | 5:03 pm
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Cleveland-Cliffs' decision to increase the prices of its steel products could potentially boost its revenues and profitability in the short term.
The price increase for Cleveland-Cliffs' steel products directly impacts the company's revenue. Higher prices, if sustained, could lead to increased profitability, assuming demand remains stable. This could potentially have a positive impact on the company's stock price in the short term.
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