Tag: Cleveland-Cliffs

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.

Cleveland-Cliffs' shuttered tin mill in Weirton, W.Va., caught fire on Saturday as a crew worked to recover scrap metal ahead of the plant's demolition, according to a local news reports.

Members of the Congressional Steel Caucus met in Washington on Wednesday to assess the state of the domestic steel industry. Lawmakers and industry leaders discussed the importance of Section 232 tariffs, strong trade enforcement, and continued investment in American steelmaking.

SunCoke Energy Inc. and Cleveland-Cliffs Inc. have agreed to extend their coke supply agreement for another three years.

South Korean steelmaker POSCO is set to take at least a 10% stake in Cleveland-Cliffs and invest over $700 million, according to a South Korean media report.

Cleveland-Cliffs on Thursday said it had signed a memorandum of understanding (MoU) with POSCO to forge a strategic partnership, one Cliffs bills as "transformative."

Cliffs said it successfully completed a defect-free trial production of exposed steel parts using aluminum-forming equipment in collaboration with an unnamed OEM,

Lourenco Goncalves confirmed that Cleveland-Cliffs is actively selling off portions of its Ferrous Processing and Trading (FPT) assets. Its direct reduction plant in Toledo, Ohio, may also be up for grabs...

Cleveland-Cliffs is positioning itself as a key player in America’s push for industrial independence.

Cleveland-Cliffs executives pointed to growing automotive demand as the engine driving a turnaround at the company.

Cleveland-Cliffs Inc. pointed to signs of recovery in its third-quarter earnings report on Monday. Improved automotive volumes and a better product mix drove sequential gains, but the steelmaker’s financials continue to bled red.

Usually, I write about steel in this column because, well, we’re Steel Market Update. But before I get to steel, I want to give a shoutout to my colleagues at Aluminum Market Update (AMU) – SMU’s new sister publication.

The Cleveland-Cliffs name has been removed from its idled Steelton rail mill. SMU asked Cliffs about the move and if it might signal that it is selling the mill...

Another chapter of the Great U.S. Steel Buyout of the 2020s melodrama has closed, with all involved parties terminating the litigation disputes between them.

Cleveland-Cliffs Inc. has reportedly signed "unusually long" fixed-price supply agreements with multiple US automakers.

“We are committed to bring the hot-end back to full operation. The goal is to bring back to work all employees of the currently idled units as soon as we can," Chairman, President, and CEO Lourenco Goncalves said in a letter to colleagues on Wednesday.

Cleveland-Cliffs is idling blast furnace, BOF shop, and continuous caster functions at its Dearborn plant, but downstream operations will remain unaffected, the company confirmed.   Cliffs said its pickling line tandeom cold mill (PLTCM) and its extra wide automotive-grade galvanizing line for exposed parts will continue operations at the Dearborn, Michigan-based facility.

U.S. Steel and Nippon Steel are not done settling scores with those who opposed their historic, $14.9-billion partnership.

Cleveland-Cliffs lost more than $400 million for the third consecutive quarter but predicted results would improve in the second half of the year. And shares of the Cleveland-based steelmaker surged after company executives said during its Q2 earnings call on Monday that they could make billions by courting foreign investors or selling assets.

CEO Lourenco Goncalves, flanked by state leaders and union reps, touted the project as proof that US manufacturing is not only alive, but also advancing.