Categories: Wire Stories

Cleveland-Cliffs and the United Steelworkers File Trade Cases On Unfairly Traded Tin Mill Products

CLEVELAND–(BUSINESS WIRE)–Cleveland-Cliffs Inc. (NYSE: CLF) today announced that it has partnered with the United Steelworkers (USW) in filing antidumping and countervailing duty petitions against eight countries related to unfairly traded tin and chromium coated sheet steel products (�tin mill products”). The petitions seek the imposition of antidumping duties on U.S. imports of tin mill products from Canada, China, Germany, the Netherlands, South Korea, Taiwan, Turkey, and the United Kingdom. The petitions also seek the imposition of countervailing duties on U.S. imports of tin mill products from China.

Lourenco Goncalves, Cleveland-Cliffs’ Chairman, President and Chief Executive Officer, stated, “The United States is still the largest importer of steel in the world, despite being the most environmentally friendly steel producing nation. As our filing shows, there has been a significant surge in unfairly priced tinplate imports flooding the United States over the past two years, and we cannot let this persist. We welcome competition with any and all imported steel as long as our U.S. trade laws are respected, and we will use all the tools at our disposal to remedy the situation.”

Tin mill products are used primarily for packaging applications, particularly for canned food, among many others. Cleveland-Cliffs produces tin mill products at its Weirton, West Virginia operating facility and sells approximately 300,000 net tons per year, approximately 2% of total Company steel sales volume. The Weirton facility employs approximately 950 people, the majority of whom are USW-represented.

The petitions present evidence that imports of tin mill products from each subject country are being sold in the United States at less than normal value and that imports of tin mill products from China are benefiting from countervailable subsidies. The petitions also show that dumped and subsidized imports from the subject countries have taken sales from the domestic industry and made it impossible to obtain a fair rate of return on domestic operations, putting the future of American made tin mill products at risk.

The eight countries covered by the antidumping petitions and their respective margins are as follows:

Country

       

Dumping Margins

Canada

       

78.29%

China

       

130.88%

Germany

       

43.64%

Netherlands

       

124.17% – 294.27%

South Korea

       

13.46% – 110.84%

Taiwan

       

47.22% – 60.12%

Turkey

       

96.51% – 106.43%

United Kingdom

       

110.81%

Census data indicates that, from 2019 to 2021, imports of tin mill products from the subject countries increased by 21%. Subsequently, imports from these subject countries, through November 2022, increased by an additional 21%.

About Cleveland-Cliffs Inc.

Cleveland-Cliffs is the largest flat-rolled steel producer in North America. Founded in 1847 as a mine operator, Cliffs also is the largest manufacturer of iron ore pellets in North America. The Company is vertically integrated from mined raw materials, direct reduced iron, and ferrous scrap to primary steelmaking and downstream finishing, stamping, tooling, and tubing. Cleveland-Cliffs is the largest supplier of steel to the automotive industry in North America and serves a diverse range of other markets due to its comprehensive offering of flat-rolled steel products. Headquartered in Cleveland, Ohio, Cleveland-Cliffs employs approximately 27,000 people across its operations in the United States and Canada.

Contacts

MEDIA CONTACT:
Patricia Persico

Senior Director, Corporate Communications

(216) 694-5316

INVESTOR CONTACT:
James Kerr

Manager, Investor Relations

(216) 694-7719

Alex

Recent Posts

China Focus: Technology sows seeds of hope in combating desertification

HOHHOT, CHINA - Media OutReach Newswire - 23 December 2024 - China's National Forestry and…

9 hours ago

Novautek Honored with the “Outstanding SME ESG and Business Performance Award”

HONG KONG SAR - EQS Newswire - 23 December 2024 - Novautek Autonomous Driving Limited…

11 hours ago

V-GREEN and Xanh SM Indonesia sign MoU with Lippo for comprehensive green ecosystem in Indonesia

JAKARTA, INDONESIA - Media OutReach Newswire - 23 December 2024 - V-GREEN and PT Xanh…

11 hours ago

Molex Anticipates Steady Growth in High-Speed Connectivity in 2025, Driving Electronics Design Innovations Across Diverse Industry Sectors

Increase in opportunities predicted for high-speed optical transceivers and miniaturized connectivity solutions to address data-intensive…

13 hours ago

Celebrating 25 Years of Excellence: DYXnet Embarks the New Chapter of Digital Transformation

HONG KONG SAR - Media OutReach Newswire - 23 December 2024 - DYXnet, a wholly-owned…

14 hours ago

The Top 10 Best Places to Work in Egypt for 2024 revealed

CAIRO, EGYPT - Media OutReach Newswire - 23 December 2024 - Eand, Novo Nordisk, BSH,…

16 hours ago