This Morning in Metals: Cleveland-Cliffs to raise flat-rolled steel prices

Cleveland-Cliffs to raise flat-rolled steel prices

Cleveland-Cliffs, which this year acquired steelmaker AK Steel, plans to raise its prices for flat-rolled steel by at least 4%, the company announced Thursday, MarketWatch reported.
Looking for metal price forecasting and data analysis in one easy-to-use platform? Inquire about MetalMiner Insights today!

China’s copper inventories fall

China’s copper inventories this week fell by the largest amount in eight months, according to a Reuters report.
According to the report, copper inventories in SHFE warehouses fell 15.8% for the week ending May 22 compared with the previous week.

Iron ore prices approach $100/ton

Prices of iron ore approached $100 per ton Thursday, the Financial Times reported.
Generate hard savings on your metal buys year-round; trial MetalMiner’s monthly outlook report
The ascent comes as China’s General Administration of Customs announced there would no longer be mandatory quality assessments for imported iron ore as of June 1, the Financial Times reported.