Steel Products
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/media/k2/items/src/06f883c237735812f64a3e9ab09a640a.jpg)
Cliffs CEO Lourenco Goncalves to Address SMU Steel Summit 2020
Written by Sandy Williams
August 7, 2020
The COVID-19 pandemic is not stopping CEO Lourenco Goncalves. “We are back on track and ready to fulfill our vision for the new Cleveland-Cliffs, which includes our mines and pellet plants, AK Steel, AK Tube, Precision Partners and our new HBI plant.”
Having set his sights on the auto industry and already dedicating more than 60 percent of production to auto, Goncalves says the company is primed to do more.
“In the demanding business of supplying steel to the automotive industry, chemical and metallurgical consistency is critical. We can do this very well. Because among other things we have our own iron ore production and are self-sufficient in-house. We also have the right equipment to produce the highly specified materials.
“Equally important, we also have the dedicated brain power, and indeed capability, to develop the steels of the future cars. And that’s something others in this market will not be able to accomplish anytime soon. Our clients know that. Our competitors do too.”
Cliffs recently added Tesla to its client portfolio and sees the new wave of electric vehicles as an opportunity. And, those cars will need steel.
“Aluminum has been trying to become a mainstream material in cars for a long, long time. And except for the Ford F-150, they have never succeeded on pretty much anything that they tried. The biggest problem with aluminum is called the consumer,” says Goncalves. “Consumers of F-150 with aluminum don’t like the car.”
He notes that even Tesla, whose first car was aluminum, has abandoned the material in favor of steel in the Tesla 3. “No matter how we skin the cat, aluminum will continue to be a wannabe,” claims Goncalves.
Known for his frank style of talking, Goncalves will be one of the featured speakers at this year’s SMU Steel Summit 2020. Register for the Aug. 24-26 conference by clicking here.
Speaker’s Bio
Lourenco Goncalves was appointed Chairman, President and Chief Executive Officer of Cleveland-Cliffs in August 2014. Since joining the company, he has implemented a strategic initiative designed to strengthen Cliffs’ position as a major player in the U.S. steel industry. In March 2020, he led Cliffs’ acquisition of AK Steel, a major supplier to the auto industry. Cleveland-Cliffs will also be the sole producer of hot briquetted iron (HBI) in the Great Lakes region upon complete of the new $1 billion HBI plant in Toledo.
Goncalves brings more than 30 years of experience in the metals and mining industries. Prior to Cliffs, he served as Chairman of the Board, President and Chief Executive Officer of Metals USA Holdings Corp., President and Chief Executive Officer of California Steel Industries, Inc., and held various positions in operations and sales at Companhia Siderúrgica Nacional (CSN). He earned a Master of Science degree in Metallurgical Engineering from the Federal University of Minas Gerais in Belo Horizonte, Brazil, and a Bachelor’s degree in Metallurgical Engineering from the Military Institute of Engineering in Rio de Janeiro, Brazil.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2023/04/sandy-williams.jpeg)
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Products
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2023/10/CMC-New-Logo.png)
CMC to open rebar fabrication facility in Ohio
Longs producer and metal recycler CMC plans to open a new rebar fabrication plant in Akron, Ohio.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/steel_trade.png)
US and Mexico take action to curb ‘unfair’ trade
The US and Mexico announced measures on Wednesday to prevent tariff evasion and protect North America’s steel and aluminum industries.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/gears.png)
Final thoughts
First off, we hope everyone had a safe and happy July 4th holiday, with fireworks seen and BBQs attended. Many parts of the country are quite toasty at the moment, signaling that, yes, summer has indeed arrived. And looking at our most recent survey results, the summer doldrums have arrived as well.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2023/12/Rig_count_pic_3-scaled.jpg)
Active rig counts recover in US, slip in Canada
US drill rig activity moved back up last week after drifting lower for four straight weeks. Meanwhile, Canadian counts slipped for the first time after a seven-week rally, according to the latest data from Baker Hughes.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/AISI.png)
AISI: US steel shipments up in May from April, off from 2023
Domestic steel shipments increased in May month over month but have fallen on-year.