The Great Lakes Clean Hydrogen Hub coalition has submitted a full application for federal funding from the $8 billion U.S. Department of Energy program to support the creation of regional clean hydrogen hubs under the Infrastructure Investment and Jobs Act. Great Lakes Clean Hydrogen Hub Coalition aims to help major industries across Midwest [...]
Cleveland-Cliffs Inc. announced today that it has reached a tentative agreement with the International Association of Machinists and Aerospace Workers Local 1943 on a new 4-year agreement for its Middletown Works steelmaking operation. The contract will be effective on May 15, 2023, and will cover approximately 2,100 hourly employees. Lourenco [...]
SunCoke Energy, Inc. and Cleveland-Cliffs Inc. have agreed to a 12-year extension of their existing contract, under which SunCoke will provide 1.22 million tons of metallurgical coke annually to Cleveland-Cliffs from its Indiana Harbor cokemaking facility located in East Chicago, Indiana. The key provisions of the extension agreement are similar to [...]
Cleveland-Cliffs Inc. announced today that it has closed its previously priced offering of $750 million aggregate principal amount of senior unsecured guaranteed notes due 2030 , which were priced at 6.75% annual coupon and issued at par. The Company intends to use the net proceeds from the Notes to repay a portion of the borrowings under its [...]
Cleveland-Cliffs Inc. announced today that it has priced $750 million aggregate principal amount of senior unsecured guaranteed notes due 2030 in an offering that is exempt from the registration requirements of the Securities Act of 1933 . The Notes will bear interest at an annual rate of 6.75% and will be issued at par. The Notes will be [...]
Cleveland-Cliffs Inc. announced today that it intends to offer to sell, subject to market and other conditions, $750 million aggregate principal amount of senior unsecured guaranteed notes due 2030 in an offering that is exempt from the registration requirements of the Securities Act of 1933 . The Notes will be guaranteed on a senior unsecured [...]
Cleveland-Cliffs Inc. today provided its preliminary first-quarter financial results for the period ended March 31, 2023. Selected financial results expectations for the first quarter of 2023 include: Steel shipments of 4.1 million net tons Revenues of approximately $5.2 billion Adjusted EBITDA1 of approximately $200 million Lourenco Goncalves [...]
Cleveland-Cliffs Inc. will announce its first-quarter 2023 earnings results after the U.S. market close on Monday, April 24, 2023. The Company invites interested parties to listen to a live broadcast of a conference call with securities analysts and institutional investors to discuss the results on Tuesday, April 25, 2023, at 10:00 am ET. The call [...]
Cleveland-Cliffs Inc. today announced that it is increasing current spot market base prices for all carbon hot rolled, cold rolled and coated steel products by a minimum of $100 per net ton, effective immediately with all new orders. Cliffs' minimum base price for hot rolled steel is now $1,300 per net ton. About Cleveland-Cliffs Inc [...]
Cleveland-Cliffs Inc. today applauded the U.S. International Trade Commission's unanimous affirmative preliminary determination on all countries in response to antidumping and countervailing duty petitions on tin and chromium coated sheet steel products filed by Cleveland-Cliffs and the United Steelworkers . This affirmative preliminary [...]
Cleveland-Cliffs Inc. today announced that it is increasing current base prices for its steel plate products by a minimum of $60 per net ton. This price increase includes as-rolled, normalized, and quench and tempered steel plate products, and is effective immediately with all new, non-contract orders. Cliffs also reserves the right to re-quote any [...]
Cleveland-Cliffs Inc. today announced that it is increasing current spot market base prices for all carbon hot rolled, cold rolled and coated steel products by a minimum of $50 per net ton, effective immediately with all new orders. Cliffs' minimum base price for hot rolled steel is now $850 per net ton. About Cleveland-Cliffs Inc. Cleveland-Cliffs [...]
