Cleveland-Cliffs Inc.

Cleveland-Cliffs Inc. today praised President Trump and his Administration for taking action to save 1,400 jobs at AK Steel’s Butler, Pennsylvania and Zanesville, Ohio operations. President Trump’s Administration will be moving forward with a Section 232 action implementing a remedy covering imported laminations and cores of Grain Oriented Electrical Steel . GOES is used in the production of electric transformers that [...]

Cleveland-Cliffs Inc. today reported third-quarter results for the period ended September 30, 2020. The Company reported total revenues of $1.6 billion, compared to the prior year's third-quarter consolidated revenues of $556 million. The Company recorded net income of $2 million during the third quarter of 2020. The loss of $0.02 per diluted share attributable to Cliffs' shareholders included $22 million, or $0.06 per [...]

Cleveland-Cliffs Inc. announced today it will be reporting third-quarter 2020 financial results before the U.S.-market open on Friday, October 23, 2020. 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. When: Friday, October 23, 2020, at 10:00 a.m. ET Hosts: Lourenco Goncalves, Chairman, President and Chief [...]

Cleveland-Cliffs Inc. announced that it has entered into a definitive agreement with ArcelorMittal S.A. , pursuant to which Cleveland-Cliffs will acquire substantially all of the operations of ArcelorMittal USA LLC and its subsidiaries for approximately $1.4 billion. Upon closure of the transaction, Cleveland-Cliffs will be the largest flat-rolled steel producer in North America, with combined shipments of approximately [...]

Cleveland-Cliffs Inc. today reported second-quarter results for the period ended June 30, 2020. The Company reported total revenues of $1.1 billion, compared to the prior year's second-quarter consolidated revenues of $743 million. The Company recorded a net loss of $108 million during the second quarter of 2020, and a loss of $0.31 per diluted share attributable to Cliffs' shareholders. This compares to net income of [...]

Cleveland-Cliffs Inc. today announced that its wholly-owned subsidiary, AK Steel, is increasing current spot market base prices for all carbon flat-rolled steel hot rolled, cold rolled and coated products by a minimum of $40 per ton, effective immediately with new orders in North America. About Cleveland-Cliffs Founded in 1847, Cleveland-Cliffs is among the largest vertically integrated producers of differentiated iron [...]

Cleveland-Cliffs Inc. announced today it will be reporting second-quarter 2020 financial results before the U.S.-market open on Thursday, July 30, 2020. 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. When: Thursday, July 30, 2020, at 10:00 a.m. ET Hosts: Lourenco Goncalves, Chairman, President and Chief [...]

AK Steel, a wholly-owned subsidiary of Cleveland-Cliffs , was named GM Supplier of the Year by General Motors for Raw Materials during a virtual ceremony honoring the recipients of the company’s 28th annual Supplier of the Year awards on Wednesday, June 24, 2020. GM’s Supplier of the Year award is reserved for suppliers who distinguish themselves by meeting performance metrics for quality, execution, innovation, and total [...]

Cleveland-Cliffs Inc. announced today that it has priced an additional $120 million aggregate principal amount of Senior Secured Notes due 2026 in an offering that is exempt from the registration requirements of the Securities Act of 1933 . The Additional Notes will bear interest at an annual rate of 6.75% and will be issued at a price of 99.250% of their principal amount. The Additional Notes will be guaranteed on a [...]

Cleveland-Cliffs Inc. today announced that it intends to offer to sell, subject to market and other conditions, an additional $120 million aggregate principal amount of Senior Secured Notes due 2026 in an offering that is exempt from the registration requirements of the Securities Act of 1933 . The Additional Notes will be an issuance of Cliffs’ existing 6.75% Senior Secured Notes due 2026 and will be issued as additional [...]