Cliffs: No Supply Risks Linked to Russia-Ukraine War

In a letter to customers this week, Cleveland-Cliffs said it does not expect the geopolitical fallout from Russia’s invasion of Ukraine to directly impact the company’s operations. “While we continue to monitor the situation closely, we have not identified any specific elevated risk to our operations at this time,” the company stated.

Cliffs said it will continue to make proactive and periodic evaluations of the risk environment. “In certain cases, we have determined the resulting risk level exceeds our tolerance and initiated negotiations with alternative suppliers and/or sought alternative materials to further mitigate risk.”