Cleveland Cliffs
Cleveland-Cliffs is the largest flat-rolled steel producer in North America and the leading supplier of automotive-grade steel in the U.S., operating a vertically integrated business model from raw materials to finished steel products.
Largest Flat-Rolled Steel Producer in North America
Cleveland-Cliffs is recognized as the largest flat-rolled steel producer in North America. With significant production capacity, the company plays a pivotal role in meeting the growing demand for steel products across various industries. Cleveland-Cliffs' production capabilities ensure a steady supply of high-quality flat-rolled steel to its customers.
Automotive-Grade Steel Supplier
Cleveland-Cliffs is the largest supplier of automotive-grade steel in the United States. The company's advanced manufacturing processes and strict quality control measures ensure that automotive manufacturers receive steel products that meet stringent industry standards. As a result, Cleveland-Cliffs is a critical partner in the automotive industry's supply chain.
Vertically Integrated Business Model
Cleveland-Cliffs operates a vertically integrated business model that spans from mined raw materials to primary steelmaking and downstream finishing, stamping, tooling, and tubing. This integration allows the company to maintain control over every stage of production, ensuring consistent quality and efficiency. By being self-sufficient in raw materials, Cleveland-Cliffs can also better manage costs and reduce reliance on external suppliers.
Carbon Emissions Reduction
Cleveland-Cliffs has made significant strides in reducing its carbon footprint, achieving a 25% reduction in carbon emissions. This achievement reflects the company's commitment to sustainability and environmental responsibility. Cleveland-Cliffs is actively working toward further reductions, with a goal to reduce combined absolute Scope 1 and 2 GHG emissions by 25% by 2030.
Employee Workforce and Facilities
Cleveland-Cliffs employs approximately 28,000 people across its operations in the United States and Canada. The company operates 56 facilities as of December 31, 2022, showcasing its extensive footprint in the steel industry. Cleveland-Cliffs' workforce is a vital part of its operations, contributing to the company's success and growth.
Revenue and Fortune 500 Ranking
In 2022, Cleveland-Cliffs generated $23 billion in revenue, earning the company a ranking of 170 on the Fortune 500 list for 2023. This financial performance highlights Cleveland-Cliffs' strong market position and ability to drive significant economic value within the steel industry.
Exclusive Grain-Oriented Electrical Steel Producer
Cleveland-Cliffs is the sole producer of Grain-Oriented Electrical Steel (GOES) in the United States. This specialty steel is essential for the production of energy-efficient transformers and other electrical applications. By producing GOES domestically, Cleveland-Cliffs supports the manufacturing needs of the electrical sector while minimizing supply chain disruptions.
Toledo DR Plant
The Toledo Direct Reduction (DR) Plant operated by Cleveland-Cliffs is the most modern, efficient, and environmentally friendly Direct Reduction Plant in the world. This state-of-the-art facility underscores Cleveland-Cliffs' commitment to innovation and sustainable steel production practices.
Cleveland-Cliffs Tubular Components
Cleveland-Cliffs Tubular Components specializes in producing technologically advanced, high-quality carbon and stainless tubes for demanding applications. The company's expertise in this area ensures that its tubular products meet the stringent requirements of various industries, including automotive and industrial sectors.
Tooling and Stamping Solutions for Automotive Industry
Cleveland-Cliffs Tooling and Stamping provides custom solutions for the automotive industry, including hot-stamped and cold-stamped advanced high-strength steel components. These products are designed to meet the specific needs of automotive manufacturers, enhancing vehicle performance and safety while reducing weight and improving fuel efficiency.
Hot Briquetted Iron (HBI) Product
Cleveland-Cliffs' hot briquetted iron (HBI) product is a premium alternative to scrap and imported pig iron used in the steelmaking process. This product helps steel manufacturers achieve high-quality steel production while diversifying their raw material supply sources. The HBI product also plays a role in reducing dependency on less sustainable raw material options.
Membership in American Iron and Steel Institute (AISI)
Cleveland-Cliffs is a member of the American Iron and Steel Institute (AISI). Through this membership, the company participates in industry-wide initiatives and collaborates with other leading steel producers to advocate for policies and practices that support the growth and sustainability of the steel industry.
Hot-Rolled Coil Spot Price Publication
Cleveland-Cliffs will publish its hot-rolled coil spot price monthly in response to industry trends and customer feedback. This price will be unveiled in conjunction with the monthly opening of the Hot Rolled order book and will be simultaneously published on the company's website. This transparency helps customers and stakeholders stay informed about pricing trends in the steel market.