Cleveland-Cliffs, a big steel company, just had its earnings call! They talked about 2024 being a tough year for steel, but things are looking up for 2025. They bought a Canadian steel company called Stelco, which will help them grow.
- Steel demand was low in 2024, especially from car makers.
- New tariffs on imported steel are expected to help boost American steel companies like Cleveland-Cliffs.
- Cleveland-Cliffs expects stronger sales and profits in 2025.
| Item | Number/Fact |
|---|---|
| 2024 Steel Demand | Weakest since 2010 (excluding COVID-19 impact) |
| Stelco Synergies (expected savings) | $120 million |
| Q4 2024 Adjusted EBITDA | $81 million loss |
