Steel Mills
Cleveland-Cliffs Idles AK Coal Indefinitely
Written by Sandy Williams
April 7, 2020
Cleveland-Cliffs will idle AK Coal due to reduced demand for coal in internal operations resulting from manufacturing shutdowns related to the COVID-19 pandemic.
The company said in a statement: “Cleveland-Cliffs continues to evaluate internal operational requirements for metallurgical coal required for steelmaking. Significant reductions in manufacturing in the United States resulting from the COVID-19 pandemic, particularly among our automotive clients, have dramatically reduced our internal need for coal, leading to the indefinite idling of the coal mine. The coal leadership team will maintain the assets and ensure environmental compliance with state and federal regulations. Longer term options, including a sale of the asset, will be evaluated during this indefinite idle of AK Coal.”
Cleveland-Cliffs CEO Lourenco Goncalves divested the company of its final coal operations at the end of 2015 in favor of a pellet-centric strategy. Acquisition of AK Steel last year included the coal operations in Somerset, Pa.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills
Millett sees tariffs, CORE case benefiting SDI
Steel Dynamics' top exec thinks Trump’s tariff policies, as well as the results from the recent CORE case, will prove advantageous to the Fort Wayne, Ind.-based steelmaker and aluminum company.
USW digs in on opposition to USS-Nippon deal
“We remain deeply concerned about the national and economic security implications of the subject transaction,” the union stated in the letter dated April 21.
SDI’s Q1 earnings slump on-year, but up sequentially
SDI earnings slip in first quarter year over year, but are up sequentially.
POSCO inks MoU with Hyundai on Louisiana EAF mill
POSCO has signed a Memorandum of Understanding (MoU) with Hyundai Motor Group that includes an equity investment in Hyundai’s previously announced EAF mill set to be built in Louisiana.
CRU: Tata Steel looks to shed 1,600 jobs in the Netherlands
The company said, “The challenging demand conditions in Europe driven by geopolitical developments, trade and supply chain disruptions and escalating energy costs have affected the operating costs and financial performance."