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Cleveland-Cliffs Lifts Minimum Base Price For Hot Rolled Steel To $1,200 Per Net Ton
(RTTNews) - Steel producer Cleveland-Cliffs Inc. (CLF) announced Monday that it is increasing current spot market base prices for all carbon hot rolled, cold rolled and coated steel products by a minimum of $100 per net ton, effective immediately with all new orders.
Cliffs' minimum base price for hot rolled steel is now $1,200 per net ton.
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Rally May Stall For Singapore Stock Market
The Singapore stock market has moved higher in three straight sessions, advancing almost 50 points or 1.3 percent along the way. The Straits Times Index now sits just above the 3,850-point plateau although it may run out of steam on Tuesday.
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Malaysia Bourse May Extend Monday's Losses
The Malaysia stock market on Monday snapped the two-day winning streak in which it had collected more than 25 points or 1.6 percent. The Kuala Lumpur Composite Index now sits just beneath the 1,540-point plateau and the losses may accelerate on Tuesday.
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Australia Building Approval Data Due On Tuesday
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Swiss Market Ends Marginally Down After Choppy Session
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European Stocks Closed Mixed After Cautious Session
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U.S. Services Index Unexpectedly Increases In April
A report released by the Institute for Supply Management on Monday showed an unexpected increase by its reading on U.S. service sector activity in the month of April. The ISM said its services PMI rose to 51.6 in April from 50.8 in March, with a reading above 50 indicating growth. Economists had expected the index to edge down to 50.6.
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