Welcome to our dedicated page for Cleveland-Cliffs news (Ticker: CLF), a resource for investors and traders seeking the latest updates and insights on Cleveland-Cliffs stock.
Cleveland-Cliffs Inc. (CLF) is North America's largest flat-rolled steel producer and a critical supplier to automotive, construction, and energy industries. This dedicated news hub provides investors and industry professionals with timely updates on corporate developments, financial performance, and market positioning.
Access all official press releases and third-party analyses in one centralized location, including earnings announcements, operational expansions, sustainability initiatives, and strategic partnerships. Our curated collection ensures you stay informed about CLF's vertical integration advantages, from iron ore mining to advanced steel solutions.
Key updates cover production innovations, automotive sector contracts, raw material pricing trends, and environmental stewardship programs. Bookmark this page for streamlined tracking of CLF's role in shaping North American industrial supply chains and its responses to evolving market demands.
Cleveland-Cliffs (NYSE: CLF) has agreed to acquire Stelco Holdings Inc. (TSX: STLC) for C$70.00 per share, consisting of C$60.00 in cash and 0.454 Cliffs shares. The deal values Stelco at approximately C$3.4 billion, representing an 87% premium to Stelco's closing price on July 12, 2024. Key shareholders holding about 45% of Stelco shares have agreed to support the transaction. The acquisition is expected to close in Q4 2024, subject to regulatory approvals and shareholder vote. Cliffs commits to maintaining Stelco's Canadian operations, increasing production, and preserving its legacy. The deal aims to create synergies and strengthen Cliffs' position in the North American steel market.
Cleveland-Cliffs (NYSE: CLF) will release its second-quarter 2024 earnings results after the U.S. market closes on July 22, 2024. The company will host a conference call to discuss the results on July 23, 2024, at 8:30 am ET. Interested parties can access the live broadcast and subsequent replay on the company's website.
Cleveland-Cliffs (NYSE: CLF) hosted a press conference featuring U.S. Senator Sherrod Brown and USW leadership at its Cleveland Works plant in Ohio. Key speakers included David McCall, USW International President, and Donnie Blatt, Director of USW District 1. The event, aimed at addressing industry-specific issues and company developments, included prepared remarks and a media Q&A session. A full video of the event has been made available on the company's website and YouTube page for public viewing.
Cleveland-Cliffs (NYSE: CLF) will host a press conference at its Cleveland Works plant on Wednesday, June 26, featuring U.S. Senator Sherrod Brown and USW leadership, including President David McCall and Director Donnie Blatt. CEO Lourenco Goncalves will lead discussions on the recently introduced bipartisan legislation aimed at reinstating the 25% tariffs on Mexican steel imports. This 'Stop Mexico’s Steel Surge Act' is designed to protect American manufacturers and steel workers by potentially imposing additional quotas and tariffs as needed. The event will be live-streamed on Cleveland-Cliffs’ YouTube channel at 11:15 a.m. ET, with a replay available afterward.
Cleveland-Cliffs (NYSE: CLF) has announced new greenhouse gas (GHG) emissions reduction targets.
The company, having already achieved its prior goal of a 25% reduction in Scope 1 and Scope 2 GHG emissions by 2030 relative to 2017 levels, now aims to reduce emissions further by 2035 and 2050.
Specifically, Cleveland-Cliffs plans to reduce Scope 1 and Scope 2 GHG emissions intensity per metric ton of crude steel by 30% and Scope 3 emissions by 20% by 2035, with a long-term goal of near net-zero emissions by 2050.
These reductions will be driven by projects in Middletown, OH, and Butler, PA, conducted in cooperation with the U.S. Department of Energy (DOE), along with other operational initiatives.
Capital expenditure plans remain unchanged despite these new targets.
Cleveland-Cliffs (CLF) addressed allegations from U.S. Steel's Board on May 21, 2024, regarding its attempt to sell to foreign buyers without Union support. CEO Lourenco Goncalves emphasized the company's transparent practices and reiterated their stance on keeping U.S. Steel American-owned with Union backing. The U.S. Steel Board's claim that the Union lacked veto power is disputed by Cliffs, highlighting support from the United Steelworkers (USW) only for Cleveland-Cliffs. U.S. Steel's decision to pursue a deal with Nippon Steel, without Union endorsement, is criticized as presenting CFIUS risks and negative impacts on workers and national security. Prominent figures, including President Biden and candidate Donald Trump, have opposed the transaction to maintain U.S. Steel's American ownership.
Cleveland-Cliffs Inc. (NYSE: CLF) praised the International Trade Commission's decision to maintain tariffs on tin mill products from Japan, emphasizing Japan's unfair trade practices in the steel industry. The company's CEO highlighted the significance of American ownership in the steel sector and the need to address unfair trade practices through U.S. trade laws.
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