Cleveland-Cliffs (NYSE:CLF) said Monday it is raising its current spot market
base prices for all of its carbon hot-rolled, cold-rolled and
coated steel products by a minimum of $100/ton, effective immediately with all
new orders.
The
minimum base price for hot-rolled steel is now $1,100/ton, the company said.
Cleveland-Cliffs
(CLF) has now hikes
price three times in February; last week it
lifted spot market base prices by a minimum of $100/ton, and a week earlier it
raised spot base prices by a minimum of $50/ton.
Cleveland-Cliffs'
(CLF) expenses remain
too high, but improvements are happening, which along with higher volumes
should lift EBITDA and EPS, Quad 7 Capital writes in an analysis published recently on
Seeking Alpha.