Steel Mills
February 22, 2022
Galvanized Distributors See Cliffs' Price Increase as a Positive Sign
Written by Tim Triplett
Distributors who sell galvanized steel products to the construction and HVAC sectors see Cleveland-Cliffs Inc.’s announcement of a price increase this week as a positive sign the market’s slide may be nearing a bottom.
The Cleveland-based steelmaker notified customers this week that it is shutting down a blast furnace and will raise prices for April orders of all flat-rolled steel by at least $50 per ton ($2.50/cwt). The market is watching anxiously to see if other mills follow suit.
