Steel Products
Iron Ore Producer Rebrands as Cleveland-Cliffs Inc.
Written by Sandy Williams
August 15, 2017
Cliffs Natural Resources, in celebration of 170 years in business, has returned to its historical name Cleveland-Cliffs Inc.
“The historical name Cleveland-Cliffs is synonymous with our strong heritage and is the perfect one for our next era of growth,” said Chairman, President and CEO Lourenco Goncalves.
“As we did more than 60 years ago, when we adopted pelletizing as a smart business opportunity to utilize American iron ore and provide the domestic blast furnaces with customized pellets, Cleveland-Cliffs is once again reinventing itself as the supplier of high-quality iron units to the Great Lakes region. With our expansion into the production of Hot-Briquetted Iron (HBI) to supply the growing electric arc furnace steel industry, Cleveland-Cliffs is the best name to represent our strong present and our bright future.”
{loadposition reserved_message}
Cliffs was founded in 1847 and is the largest and oldest mining company in the United States. Its mines and pellet plants located in Michigan and Minnesota supply iron ore pellets to the North American steel industry. The company will begin construction of its first HBI plant in Toledo, Ohio, in 2018 and expects to begin commercial production in 2020. The plant will have a nominal capacity of 1.6 million tons of HBI per year and make Cliffs the sole producer of HBI in the Great Lakes region. Cliffs also operates an iron ore mining complex in Western Australia.
Cliffs new name is effective immediately and does not change the company’s NYSE stock symbol “CLF.”

Sandy Williams
Read more from Sandy WilliamsLatest in Steel Products

UAW Has Upper Hand vs. Automakers: Schenker
The United Auto Workers (UAW) union has more leverage than the Detroit Three automakers in the current strike that started Sept. 15, according to Jason Schenker, president of Prestige Economics.

US Rig Count Drops, Canada Unchanged
The number of active oil and gas drilling rigs in the US dropped this week, while Canada’s count remains unchanged, according to the most recent data from oilfield services company Baker Hughes.

CRU: Demand-side Factors to Create Drag on Global Sheet Markets
Demand will be the determining factor in what happens to steel sheet prices globally for the remainder of the year, and most risks right now are to the downside. An autoworkers strike has started in the USA and could increase price volatility in the domestic sheet market. The longer and more severe this strike is, […]

Driving the Debate: Auto Worker’s Wage Demands in an Era of EV Transition
The LME aluminum 3-month price was up 0.8% on the morning of Friday Sept. 22. It was last seen trading at $2,238/metric tons, remaining above the $2,200/t mark for most of the past week.

Zekelman Industries Expanding ZI-Strut Line
Zekelman Industries has announced an expansion of its its ZI-Strut™ metal framing and accessories product line.