Steel Mills
Cliffs names Bloom to board of directors
Written by Ethan Bernard
January 3, 2024
Cleveland-Cliffs has appointed private-equity executive Ron Bloom to its board of directors, effective immediately.
Bloom, also a labor and political advisor, is the 11th member of Cliffs’ board. Ten are independent advisors, Cliffs said. Bloom is currently a managing partner and vice chair of Brookfield Asset Management’s Private Equity Group.
“We are honored to welcome Ron Bloom to our board of directors,” Lourenco Goncalves, Cliffs’ chairman, president, and CEO, said in a statement on Wednesday.
“Ron’s distinguished career represents the Cleveland-Cliffs culture perfectly, which includes fierce negotiating skills, fighting for the resilience of American manufacturing, and a deep appreciation for organized labor and a thriving middle class,” Goncalves added.
Ethan Bernard
Read more from Ethan BernardLatest in Steel Mills
Mexico’s TYASA breaks ground on SBQ rolling mill
Mexican steelmaker Talleres y Aceros (TYASA) broke ground this month on the construction of a new special bar quality (SBQ) rolling mill in the state of Veracruz.
Goncalves sees more US trade actions ahead, says Nippon deal for USS has ‘zero chance’
Cleveland-Cliffs’ Lourenco Goncalves thinks trade measures announced by the US government on Tuesday against China were just the opening salvo in a series of trade actions. Case in point: The Biden administration targeted China’s “unfair” trade policies with additional tariffs on an array of Chinese-made goods - including steel, aluminum, and EVs.
Nucor holds weekly HRC price steady after last week’s cut
Nucor chose to hold its consumer spot price (CSP) for hot-rolled (HR) coil steady this week after stunning the market last week with a significant price decline. The steelmaker said in a letter to customers on Monday morning that its $760-per-short-ton (st) CSP base price for HR coil is effective immediately. The price is unchanged from the CSP announced on May 6 but down $65/st from $825/st April 29.
Nucor’s Jellison set to retire, Spicer tapped for EVP role
Nucor said EVP Douglas J. Jellison plans to retire on June 8 after more than 33 years with the company. Randy J. Spicer will be promoted to EVP effective May 12.
Republican Senators demand Biden block USS sale to Nippon
Three vocal Republican senators are demanding that President Joe Biden block the sale of U.S. Steel to Japan’s Nippon Steel.