Tag: Cleveland-Cliffs

The United Steelworker (USW) said on Friday that work continues with Cleveland-Cliffs at both the local and master bargaining tables.

Cleveland-Cliffs said the US Department of Energy has established a framework for Cliffs to finalize negotiations and implementation plans for its Middletown Works investment. The framework rescopes the previously awarded $500 million DOE grant.

S232 tariffs of 50% provide a signal to domestic producers. Domestic prices have risen by approximately 50%. Similarly, the tariffs have simply moved the competitive threshold for imports 50% higher.

Labor contract talks between the United Steelworkers (USW) union and U.S. Steel have made some headway. But the Pittsburgh-based steelmaker and the USW have somewhat different views about how much progress has been made to date.

Some key matters haven't been brought up yet. “We have not begun bargaining over economic issues, including wages,” the USW said in an update to members.

The United Steelworkers’ (USW) president released a video on Monday touting the union’s commitment to getting a good contract for its workers in the current negotiations.

Cleveland-Cliffs (Cliffs) and the United Steelworkers (USW) labor union plan to discuss capital expenditures (capex) as part of their ongoing master contract negotiations.

The United Steelworkers (USW) informed members it continues bargaining with Cleveland-Cliffs about both the union's Training Committee and the Contracting Out Committee.

Cleveland-Cliffs’ top executive said any restart of the blast furnace at its Dearborn Works in Michigan hinges on automakers reshoring more production to the US.

Cleveland-Cliffs President and CFO Celso Goncalves said no deal was imminent between the company and South Korean steelmaker POSCO because of disagreements over valuation.

Cleveland-Cliffs Inc. narrowed its losses in the second quarter thanks to increased demand, higher prices, longer lead times, and limited import competition.

Celso Goncalves has been promoted to president and chief financial officer and appointed to the Cleveland-Cliffs board of directors.

USW pushes back on preliminary contract updates amid USS negotiations.

Notably, pig iron is not excluded from the proposed Brazil measures. This would represent a change from the Brazil EEPA tariffs, which excluded pig iron.

Cleveland-Cliffs has been awarded a $400 million contract by the US Department of War for grain-oriented electrical steel (GOES), the department announced last week.

USW and Cleveland-Cliffs to begin master negotiations on July 20.

Cleveland-Cliffs plans to upgrade its ironmaking process at Middletown Works, according to a permit filing with the Ohio EPA.

“The issue we heard most about is healthcare. You were loud and clear at every location and in the surveys that maintaining our healthcare benefits is a top issue," the USW said.

Volume, which is usually a big positive for buyers in price negotiations, has arguably become a net negative.

POSCO said its negotiations with Cleveland-Cliffs remain active, citing differences in opinions for lagging progress.

The Trump administration's invocation of the Defense Production Act authorizes the Department of Energy to use DPA tools to accelerate construction, expand domestic manufacturing capacity, and shore up critical supply chains – all areas with direct implications for steel.

Cleveland-Cliffs plans to deploy Palantir’s advanced AI technologies across its commercial and operations internal processes.  

In a Final Thoughts las week, I asked “Got Steel?” And if you’re looking for spot tons in June, the answer still isn’t obvious.

Cleveland-Cliffs Inc. executives on Monday detailed a series of operational moves aimed at improving efficiency, lowering costs, and tightening the company’s production footprint.

Cleveland-Cliffs Inc. reported improving supply-demand fundamentals in the first quarter and expects stronger conditions through the rest of 2026.

POSCO has reiterated its interest in expanding in the US market. The South Korean steelmaker also confirmed it remains in talks with Cleveland-Cliffs Inc.

The United Steelworkers (USW) union swore in Roxanne Brown as its new international president on Sunday.

Cleveland-Cliffs has appointed Ralph “Mike” Michael III, former chairman of AK Steel, as lead independent director of its board, effective immediately.

Cleveland-Cliffs Inc. continued to bleed red in the final quarter of 2025. But the steelmaker expects profitability to improve in 2026 with a troublesome slab contract behind it and more protections from imports in place.

The USW's contracts with Cliffs and USS expire on Sept. 1 of this year.