Cleveland-Cliffs Plans Indefinite Closure of Three Steel Plants, Impacting 950 Jobs

Cleveland-Cliffs, a major U.S. steelmaker, will indefinitely idle three plants in Pennsylvania and Illinois, resulting in approximately 950 job losses. The company attributes the closures to weak demand and pricing for specialized steel products, such as rails and high-carbon sheets, which are outside its core focus on flat-rolled steel products. Cleveland-Cliffs emphasized the decision is unrelated to steel import tariffs and that its flat-rolled steel production will remain unaffected. The closures follow similar moves earlier in the year, including the idling of a Michigan plant and reduced mining operations in Minnesota, amid broader industry challenges such as declining sales and weak automotive demand. Company leaders and local officials have raised concerns about the economic impact on affected workers and communities, while analysts note Cleveland-Cliffs still has significant growth potential based on market forecasts. The company assures it will continue monitoring market conditions and may resume operations if demand recovers.