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<blockquote data-quote="Weather Man" data-source="post: 16821117" data-attributes="member: 137766"><p><h3>Cleveland-Cliffs hikes prices by minimum $75/ton</h3><p>Aug. 24, 2022 5:50 PM ET<a href="https://seekingalpha.com/symbol/CLF?source=content_type%3Areact%7Csection%3Amain_content%7Csection_asset%3Ameta%7Cfirst_level_url%3Anews%7Csymbol%3ACLF" target="_blank">Cleveland-Cliffs Inc. (CLF)</a>By: <a href="https://seekingalpha.com/author/sa-editor-carl-surran?source=content_type%3Areact%7Csection%3Amain_content%7Csection_asset%3Ameta%7Cbutton%3Aauthor_name%7Cfirst_level_url%3Anews" target="_blank">Carl Surran</a>, SA News Editor<a href="https://seekingalpha.com/news/3876417-cleveland-cliffs-hikes-prices-by-minimum-75ton#comments" target="_blank">55 Comments</a></p><p></p><p><img src="https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1163344935/image_1163344935.jpg?io=getty-c-w750" alt="Steel coil transport" class="fr-fic fr-dii fr-draggable " style="" /></p><p>Taitai6769/iStock via Getty Images</p><p></p><p>Cleveland-Cliffs (NYSE:<a href="https://seekingalpha.com/symbol/CLF?source=content_type%3Areact%7Csection%3Amain_content%7Cbutton%3Abody_link%7Cfirst_level_url%3Anews" target="_blank">CLF</a>) closed +2% in Wednesday's trading after saying it <a href="https://www.marketwatch.com/story/cleveland-cliffs-raises-prices-by-minimum-of-75-ton-271661368410" target="_blank">raised current spot market base prices</a> for all carbon steel hot rolled, cold rolled and coated steel products by a minimum of $75/ton, Dow Jones reported.</p><p>The higher prices are effective immediately with new orders in North America.</p><p>Cleveland-Cliffs (<a href="https://seekingalpha.com/symbol/CLF?source=content_type%3Areact%7Csection%3Amain_content%7Cbutton%3Abody_link%7Cfirst_level_url%3Anews" target="_blank">CLF</a>) easily has more exposure to the auto industry than any other steelmaker, and perhaps the spot market price hike means stalled production rates are finally starting to improve.</p></blockquote><p></p>
[QUOTE="Weather Man, post: 16821117, member: 137766"] [HEADING=2]Cleveland-Cliffs hikes prices by minimum $75/ton[/HEADING] Aug. 24, 2022 5:50 PM ET[URL='https://seekingalpha.com/symbol/CLF?source=content_type%3Areact%7Csection%3Amain_content%7Csection_asset%3Ameta%7Cfirst_level_url%3Anews%7Csymbol%3ACLF']Cleveland-Cliffs Inc. (CLF)[/URL]By: [URL='https://seekingalpha.com/author/sa-editor-carl-surran?source=content_type%3Areact%7Csection%3Amain_content%7Csection_asset%3Ameta%7Cbutton%3Aauthor_name%7Cfirst_level_url%3Anews']Carl Surran[/URL], SA News Editor[URL='https://seekingalpha.com/news/3876417-cleveland-cliffs-hikes-prices-by-minimum-75ton#comments']55 Comments[/URL] [IMG alt="Steel coil transport"]https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1163344935/image_1163344935.jpg?io=getty-c-w750[/IMG] Taitai6769/iStock via Getty Images Cleveland-Cliffs (NYSE:[URL='https://seekingalpha.com/symbol/CLF?source=content_type%3Areact%7Csection%3Amain_content%7Cbutton%3Abody_link%7Cfirst_level_url%3Anews']CLF[/URL]) closed +2% in Wednesday's trading after saying it [URL='https://www.marketwatch.com/story/cleveland-cliffs-raises-prices-by-minimum-of-75-ton-271661368410']raised current spot market base prices[/URL] for all carbon steel hot rolled, cold rolled and coated steel products by a minimum of $75/ton, Dow Jones reported. The higher prices are effective immediately with new orders in North America. Cleveland-Cliffs ([URL='https://seekingalpha.com/symbol/CLF?source=content_type%3Areact%7Csection%3Amain_content%7Cbutton%3Abody_link%7Cfirst_level_url%3Anews']CLF[/URL]) easily has more exposure to the auto industry than any other steelmaker, and perhaps the spot market price hike means stalled production rates are finally starting to improve. [/QUOTE]
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