Tag: Cleveland-Cliffs

We weren’t supposed to see hot-rolled coil prices dip below $800 per ton ($40 per cwt) anytime soon.

We weren’t supposed to see hot-rolled coil prices dip below $800 per ton ($40 per cwt) anytime soon. Or at least that seemed to be the consensus in mid-June after mills rolled out a round of $50-per-ton price hikes, with a second round rumored to be in the works. That second round of price hikes […]

A stable market and steady lead times have led to decent demand, but companies are still keeping a close eye on where the market is headed, according to members of the Heating, Air-Conditioning & Refrigeration Distributors International (HARDI) speaking on the July 25 meeting of its Sheet Metal/Air Handling Council. During June’s meeting, 36% of […]

Cleveland-Cliffs is now charging its automotive customers a premium for its lower-carbon steel. The steelmaker has recently introduced a surcharge of $40 per net ton ($44 per metric ton or $2 per cwt) to each ton of steel made with Cliffs’ hot-briquetted iron (HBI). They are calling it the “Cliffs H” surcharge, chairman, president and […]

Cleveland-Cliffs is pushing back the reline of the C blast furnace at its Burns Harbor steel mill in northwest Indiana, executives said on the company’s second quarter earnings call on Tuesday, July 25. The BF reline, originally planned for 2025, has been pushed to 2026, CFO and executive VP Celso Goncalves said on the call. […]

Cleveland-Cliffs is now charging its automotive customers a premium for its lower-carbon steel.

Cleveland-Cliffs is pushing back the reline of the C blast furnace at its Burns Harbor steel mill in northwest Indiana.

Cleveland-Cliffs swung to a profit in the second quarter after losing money in the first. The Cleveland-based steelmaker and iron ore miner predicted that the good times would continue to roll into the second half on what is said was continued strength in automotive demand. “While the performance of our automotive clients continues to improve, […]

Workers at Cleveland Cliffs’ Northshore Mining in Minnesota have joined the United Steelworkers (USW) union.

June 1 was the most recent low for CME Midwest HRC futures. At that time, the curve was approximately flat around $800 per short ton (st). Since then, the August future has rallied $188/st, settling today at $983/st, while the September future has rallied $160/st, settling today at $953/st. The chart below compares the curve […]

South Korean steelmaker Posco has big plans to increase its global production capacity, including the making of electrical steel in North America, according to local media reports. The Korea Times reported that Posco is planning to “build additional hyper non-oriented electrical steel factories in Korea and North America to produce 1 million tons of electrical […]

Companies should keep a watchful eye on pricing and lead times, according to members of the Heating, Air-Conditioning & Refrigeration Distributors International (HARDI) speaking on the June 27 meeting of its Sheet Metal/Air Handling Council. During May’s meeting, most HARDI participants thought that prices would continue to drop. Over half of the individuals thought it […]

The US Department of Commerce has reached a preliminary determination that producers of tin mill products from China benefit from significant countervailable government subsidies. Cleveland-Cliffs applauded the decision in a press release on Wednesday. The Cleveland-based steelmaker said Commerce found a subsidy rate of 542.55% for Baoshan Iron and Steel and a rate of 89.02% for […]

Cleveland-Cliffs said Wednesday it has reached a new, three-year labor agreement with the United Auto Workers (UAW) union at its Coshocton Works in Ohio. The deal is slated to take effect July 31. The Cleveland-based steelmaker said the agreement is tentative, pending ratification by UAW local union membership, with ~330 UAW-represented workers covered. “We are pleased to reach […]

How can SMU’s sheet prices go down shortly after a round of $50-per-ton mill price hikes? Long story short: It’s because we’re capturing both pre- and post-increase pricing in our survey as well as in calls and emails with some of you. And, as those of you who’ve been in the industry for a while […]

SMU’s Steel Summit Conference 2023 is two months away, and it’s never too early for attendees and prospective attendees to start preparing for how to take advantage of the conference’s resources. CRU principal analyst Josh Spoores sat down with SMU managing editor Michael Cowden and senior analyst David Schollaert on Tuesday for a webinar in […]

What to make of the latest round of sheet prices hikes: Are they aimed at stopping the bleeding, getting buyers off the sidelines, or actually getting sheet prices back up again? These are serious questions now in a way that they weren’t after U. S. Steel first announced its price hike last Wednesday.  That hike […]

We are counting down the days until SMU’s Steel Summit Conference on Monday-Wednesday, Aug. 21-23, in Atlanta. It’s only a little over two months away. Approximately 755 people have already registered. Our discounted room blocks are almost gone. Register here. The event will again be held at the Georgia International Convention Center, a massive conference center in close […]

A bipartisan group of 36 members of Congress have expressed their concerns over potential tariffs on tin mill steel products. In a letter to the US International Trade Commission and Department of Commerce on June 12, the group said that the antidumping investigation on tin mill products brought forth by Cleveland-Cliffs earlier this year can […]

With the 2023 SMU Steel Summit quickly approaching, SMU is in full-blown planning mode. Our preparations have me reflecting on last year’s event and what I personally can do to better take full advantage of all the opportunities this year’s event will bring. (Note: CRU and SMU are hosting a free pre-conference webinar on Tuesday, […]

U.S. Steel aims to increase base prices on spot orders of flat-rolled steel by at least $50 per ton ($2.50 per cwt.) The move is effective immediately and applies to “all open quotations and/or negotiations where an agreement is yet to be concluded,” the Pittsburgh-based steelmaker said in a letter to it sales executives on […]

Sometimes it seems the whole world is downstream of the steel industry. Now, that may be a side effect of spending my days immersed in lead times, steel buyers sentiment, and hot-rolled coil futures. That would be a fair assessment. However, looking into the testimonies from the Congressional Steel Caucus’ recent hearing on June 7 […]

The Congressional Steel Caucus held a hearing on The State of the Steel Industry in Washington on Wednesday, June 7, where prominent steel executives and the United Steelworkers (USW) union gave testimony on issues such as international trade and sustainability. In his opening remarks, US Rep. Frank Mrvan (D.-Ind.), vice-chairman of the Caucus, stressed his […]

The US Department of Commerce issued the final results of its expedited sunset review of antidumping (AD) duties on steel plate from three Asian countries. The agency found that allowing the duties to expire would result in the continuation of dumping at significant rates. This is the fourth sunset review of the AD duties on […]

Trade organizations along the electrical steel value chain are urging President Biden to increase domestic production of the products. Groups represented in a May 22 letter sent to the president included the Alliance for Automotive Innovation, American Public Power Association, Edison Electric Institute, GridWise Alliance, International Brotherhood of Electrical Workers, Leading Builders of America, National Association of […]

Cleveland-Cliffs has been granted state mineral leases for over 2,600 acres of iron ore in Itasca County, Minn., the company announced on May 25. The leases are at the Nashwauk mine site located in the Iron Range region, just north of Grand Rapids, Minn. Cliffs said this approval is a final action and the company has now […]

Two separate developments suggest that the Biden administration may have concerns that more tariffs would damage the US economy by harming consumers.  First, we saw the president suspend action to impose additional tariffs on solar cells and modules from four countries in the face of an antidumping “circumvention” proceeding. Circumvention determines whether operations in third […]

Lourenco Goncalves, Cleveland-Cliffs’ chairman, president, and CEO—as well as the newly elected AISI chairman—and Kevin Dempsey, AISI president and CEO, discussed issues ranging from Section 232 tariffs and hydrogen in steelmaking, to steel imports from Mexico, along with a host of other topics on Tuesday at the American Iron and Steel Institute (AISI) General Meeting press […]

Lourenco Goncalves, chairman, president, and CEO of Cleveland-Cliffs, has been elected as chairman of the American Iron and Steel Institute (AISI), the institute said on Monday. The election for the two-year term by AISI’s board of directors took place at the AISI General Meeting at the InterContinental Hotel-The Wharf in Washington, D.C. “Lourenco is a dynamic leader in […]

Cleveland-Cliffs is preparing to lay off approximately 300 workers at its Weirton, W.Va., tin mill operations in June due to “dumped and subsidized imports,” according to a press release from Sen. Joe Manchin (D-W.Va.). The Cleveland-based steelmaker invested more than $50 million over two years in the Weirton plant to increase production. Census data indicates that […]