Tag: Cleveland-Cliffs

The United Steelworkers (USW) union has not yet reached a labor agreement with either U.S. Steel or Cleveland-Cliffs.

The Canadian government has reportedly given Cleveland-Cliffs Inc. five days to respond to a letter from Canadian Industry Minister Mélanie Joly about the Stelco layoffs or face legal action.

Canadian Prime Minister Mark Carney has threatened legal action against Cleveland-Cliffs over the layoffs announced earlier this week at its Stelco mill in Hamilton, Ontario.

Stelco Holdings Inc. is indefinitely idling its finishing operations in Hamilton, Ontario. The Canadian steelmaker, a subsidiary of Cleveland-Cliffs, will concentrate steel production at its Lake Erie Works in Nanticoke, Ontario, a Cliffs spokesperson told SMU.

Cleveland-Cliffs Inc. has confirmed a fatal accident occurred at its Monessen coke facility on Sunday, but said production has not been impacted.

A one-month extension of the terms of the current four-year contracts between the USW and the two steelmakers (which was initially set to lapse on Sept. 1) expires on Oct. 1.

The United Steelworkers (USW) union plans to extend its current labor contract with U.S. Steel and Cleveland-Cliffs by 48-hours on a rolling basis, the union told SMU on Monday.

If you’re looking for a deal on steel, this last week wasn’t the one to find one. (Nor was the week before that. Or the week before that.) Meanwhile, contract negotiations are heating up in one of the tightest markets since at least 2021. I've heard discounts will be lower, min-max ranges will be tighter, and there will be less freight equalization and waiving extras.

The United Steelworkers (USW) union, U.S. Steel, and Cleveland-Cliffs on Monday agreed to extend the terms of their current labor contracts by 30 days. The current basic labor agreements between the USW and the two steelmakers had been scheduled to expire at 12:01 a.m. ET on Sept. 1. The extension allows the USW and the companies to continue negotiations. It also averts the immediate threat of a strike or lockout in a steel market already characterized by historically tight supplies.

The United Steelworkers (USW) union and Cleveland-Cliffs remain at an impasse on key issues, the union said in an update to members on Friday.

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.