Strong US auto demand backs steel price increases: Cliffs

Cleveland-Cliffs CEO Lourenco Goncalves said Feb. 14 his company is seeing strong order activity from its automotive clients in 2023 following the successful renegotiation of fixed price contracts at the end of last year, and this momentum in the US market has underpinned the steelmaker’s recent price increases and bullish shipment outlook. “In our view of the current economic landscape,…

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