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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POSITIVE IMPACT
Cleveland-Cliffs' decision to increase the prices of its steel products could potentially boost its revenues in the short term.
The price increase for Cleveland-Cliffs' steel products directly impacts the company's revenue. If demand remains stable, the higher prices will lead to increased revenues, which could positively impact the company's stock price in the short term.
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