Cleveland-Cliffs Inc. announced today that it will publish a “Cliffs Hot Rolled Market Price” via letter to all flat-rolled customers on a monthly basis.
The company said the price will be published in conjunction with the monthly opening of the Hot Rolled order book, and will be simultaneously published at on their website. Cliffs said it may also update this price more frequently as market conditions necessitate.
Lourenco Goncalves, Cliffs Chairman, President and CEO, said, “We encourage market transparency and have been pleased to see other market participants be more open with their pricing. As the largest producer of flat-rolled steel in North America, we felt it necessary to do the same to make sure our customers had the most timely and reliable pricing information.”