Cleveland-Cliffs Inc. Announces Price Increase for Carbon Steel Products
July 21 2020 - 2:31PM
Business Wire
Cleveland-Cliffs Inc. (NYSE: CLF) (the “Company”) today
announced that its wholly-owned subsidiary, AK Steel, is increasing
current spot market base prices for all carbon flat-rolled steel
hot rolled, cold rolled and coated products by a minimum of $40 per
ton, effective immediately with new orders in North America.
About Cleveland-Cliffs
Founded in 1847, Cleveland-Cliffs is among the largest
vertically integrated producers of differentiated iron ore and
steel in North America. With an emphasis on non-commoditized
products, the Company is uniquely positioned to supply both
customized iron ore pellets and steel solutions to a
quality-focused customer base. AK Steel, a wholly-owned subsidiary
of Cleveland-Cliffs, is a leading producer of flat-rolled carbon,
stainless and electrical steel products. The AK Tube and Precision
Partners businesses provide customer solutions with carbon and
stainless steel tubing products, die design and tooling, and hot-
and cold-stamped components. In 2020, Cliffs also expects to be the
sole producer of hot briquetted iron (HBI) in the Great Lakes
region. Headquartered in Cleveland, Ohio, Cleveland-Cliffs employs
approximately 11,000 people across mining and steel manufacturing
operations in the United States and Canada. For more information,
visit www.clevelandcliffs.com or www.aksteel.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20200721005867/en/
MEDIA CONTACT: Patricia Persico Director, Corporate
Communications (216) 694-5316
INVESTOR CONTACT: Paul Finan Director, Investor Relations
(216) 694-6544
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