STEEL SUCCESS STRATEGIES: Cleveland-Cliffs ready to export iron ore if more US steelmakers cut production

United States-based iron ore producer Cleveland-Cliffs is prepared to export part of its iron ore output in the event that more furnaces are shut down in the country, its chairman and chief executive officer Lourenço Gonçalves said on Wednesday June 19.

It has yet to experience any effects of steel production cuts, however, because they did not involve any of its clients, he said during the Steel Success Strategies conference in New York, which is co-sponsored by Fastmarkets.
"I was expecting [furnace] shutdowns, and I was prepared to start exporting pellets," Gonçalves said. "But my clients did not shut down any [electric-arc furnaces]," he added.

U.S. Steel has announced plans to idle...

Published

Felipe Peroni

June 20, 2019

10:45 GMT

New York