The company stated that the closures were due to insufficient demand and pricing for the products produced at these facilities. Cleveland-Cliffs also clarified that this decision is unrelated to President Donald Trump’s tariffs. The products manufactured at these plants include rail, specialty plate, and high-carbon sheet, which are outside the company's core business. As a result, the closure of these facilities was considered an inevitable step.
The plant shutdowns will begin around June 30, following a 60-day notice period, and will continue indefinitely. Approximately 950 workers are expected to lose their jobs due to the closures. However, Cleveland-Cliffs emphasized that its flat-rolled steel production will not be affected.
In recent weeks, the company also announced plans to partially or fully shut down two iron ore mines in Minnesota, which will impact around 630 workers. Additionally, in March, Cleveland-Cliffs revealed that it would idle its steel plant in Dearborn, Michigan, due to weak automotive production in the United States, affecting about 600 workers.
Cleveland-Cliffs expressed its belief that once President Trump’s policies are fully implemented and automotive production is re-shored to the U.S., steel production at Dearborn will resume. The company also stated that it plans to restart operations at its blast furnace in Cleveland, which was idled last year.
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