Cleveland-Cliffs Inc Dossier
Qualitative Analysis
Business overview
Cleveland-Cliffs Inc. (NYSE: CLF) is the largest flat-rolled steel producer and manufacturer of iron ore pellets in North America. The company is vertically integrated from the mining of iron ore, production of pellets and direct reduced iron, and processing of ferrous scrap through primary steelmaking and downstream finishing, stamping, tooling, and tubing. Headquartered in Cleveland, Ohio, Cleveland-Cliffs employs approximately 25,000 people across its operations in the United States and Canada. The company primarily serves the automotive, infrastructure, manufacturing, and distributor markets, prioritizing value-added sheet products.
Research as of 19 Jun 2026
Strategic Initiatives
Growth programs, investments, and their expected impact
A three-year strategic partnership with Palantir Technologies to deploy advanced AI-driven solutions across Cleveland-Cliffs' manufacturing footprint, embedding AI directly into production planning, order entry, and operational workflows.
Expected impact: Aims to modernize systems, integrate data in real time, anticipate operational constraints, and drive productivity to move from human-experience-driven planning to AI-assisted decision-making.
Streamlining operations by idling or permanently closing underperforming facilities (including six operations in 2025) and shifting production from lower-margin slabs into higher-value flat-rolled products.
Expected impact: Aligns raw material needs with expected production, reduces unit costs, and improves product mix and overall profitability.
Securing multi-year fixed-price contracts with major automotive original equipment manufacturers (OEMs) and driving technical innovations to convert automotive components from aluminum to advanced high-strength steel.
Expected impact: Increases market share, secures high-margin volumes, and positions the company to benefit from policy-driven reshoring of vehicle production to the United States.
Mergers, Acquisitions & Partnerships
Recent deals and strategic collaborations
Recent Acquisitions
To expand Cleveland-Cliffs' integrated steelmaking footprint in North America, double its exposure to the flat-rolled spot market, and secure access to Great Lakes customers through Stelco's low-cost Canadian assets (Lake Erie Works and Hamilton Works).
Financial impact: Expected to unlock approximately $120 million in annual cost savings and be immediately accretive to EPS.
Strategic Partnerships
Allows POSCO to secure a direct supply of US-made steel to serve its US clients without triggering Section 232 tariffs, while providing Cleveland-Cliffs with balance sheet relief, capital injection, and technical collaboration.
Terms: POSCO is expected to invest over $700 million (1 trillion won) to acquire at least a 10% stake in Cleveland-Cliffs.
Embeds Palantir's enterprise AI platform into Cleveland-Cliffs' core internal processes to modernize manufacturing operations and commercial workflows.
Terms: Three-year agreement; specific financial terms not disclosed.