• Skip to main content

    Canada

    Canada demands Stelco jobs plan before meeting Cleveland-Cliffs

    Written by Ethan Bernard


    Canada’s Minister of Industry Melanie Joly has said she won’t meet with Cleveland-Cliffs until it presents a plan and a timeline to restore jobs at its Stelco operations in Hamilton, Ontario. This follows the Cleveland-based steelmaker’s Monday claim that it was in full compliance with undertakings related to its 2024 purchase of Stelco.

    Stelco announced layoffs affecting up to 500 workers last month. The company cited the impact of US Section 232 tariffs. Subsequently, the Canadian government alleged that the layoffs violated commitments Cliffs made when it purchased Stelco in 2024.

    Ethan Bernard

    Read more from Ethan Bernard

    Latest in Canada

    Drilling activity is flat again in the US, recovers in Canada

    The latest tally of active drilling rigs held steady in the US for a third straight week, while activity rose in Canada this week, according to oil and gas rig count data published by Baker Hughes. The US rig count remained unchanged at 603 rigs this week, maintaining a 17-month high. Compared to this time last year, there are 53 more rigs in operation today. Canada’s count rose by three to 220 rigs this week, recovering after a short-lived easing the prior week. Activity is up compared to the same week of 2025, with 21 more rigs operating today.

    Canada, Ontario commit billions to steel and automotive industries

    The Canadian federal government and the Ontario provincial government have announced five-year commitments totaling CA$5.22 billion (US$3.72 billion) for a Joint Steel Action Fund. That funding comes alongside up to an additional CA$2.5 billion over two years for large-scale automotive capital projects. The federal and provincial governments said the package is intended to support domestic steel production, automotive manufacturing, and the transition to connected and electric vehicles.

    Cliffs posts first profit since 2024 on high steel prices, trade barriers

    Cleveland-Cliffs recorded its first profitable quarter since 2024 on higher steel prices, increased sales volumes, and trade policies supportive of US mills. The Cleveland-based steelmaker swung to a profit of $152 million in Q3’2026 compared to a loss of $251 million in the same quarter last year on revenue that rose 18.5% to $5.6 billion over the same period. Prior to Q3’2026, Cliffs had not posted a profit since Q2’24, when it recorded a profit of $2 million.

    Cleveland-Cliffs postpones Burns Harbor furnace reline to 2028

    Cleveland-Cliffs Inc. has rescheduled the planned reline of the C blast furnace at its Burns Harbor steel mill in northwest Indiana from mid-2027 to April 2028, company executives said. The delay allows the Cleveland-based steelmaker to keep the furnace, which has annual capacity of ~2.2 million short tons, operating while steel prices and demand remain favorable for mills, they said during the company’s third-quarter earnings call on Monday.