Cleveland-Cliffs
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KHenry
Re: Cleveland-Cliffs
Another interesting thing to consider is what name Cliffs will operate the former Arcelor Mittal mills under. I believe when they purchased AK Steel it was announced that the AK Steel brand would be retained and the company would operate as a subsidiary of Cliffs. I wonder if Cliffs will integrate all of the steel mills into the AK Steel realm, or if the former Arcelor Mittal operations will be branded as Cleveland-Cliffs directly.
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KHenry
Re: Cleveland-Cliffs
Arcelor Mittal was already fairly vertically integrated, but chose not to pursue further control over the transportation of pellets to their mills beyond the vessels they already owned through Central Marine. Now it will be interesting to see how Cliffs approaches it.
Re: Cleveland-Cliffs
Given this is a corporate press release the content and language used, which only paints a rosy picture of the future, is unsurprising.
The tagline might be "Cleveland-Cliffs is coming to the rescue" but I would very much expect to see the status quo remain the name of the game in the mill towns of Northwest Indiana.
Just remember that the phrase "maximum utilization of the mills" doesn't mean they are going to ramp up to 100% capacity and the glory days of the steel based middle class are going to return under Cleveland-Cliffs like the CEO seems to imply. What it really means is the "maximum utilization of the mills" based upon market forces, much of which is beyond our control. Steel is too much of a global commodity for any one company to greatly influence.
Having said that it is good to hear there will be no mass layoffs as Cliffs takes over, though I would expect there will eventually be a reduction in workforce as the "streamlining of operations" begins to really kick in.
As for pollution, these are integrated steel mills and that means there is pollution. Existing technology should have already made water pollution a thing of the past. The reason we keep seeing problems is because companies don't want to spend the money to install or maintain the pollution control systems and find it cheaper to pay fines. As for air pollution, again, technology can eliminate a lot of the particulate and many of the chemical (SO2, NO2, Mercury) emissions but there is always going to be tons and tons of CO2 pumping out of coke ovens and blast furnaces, it's just the nature of their processes. Maybe Cliffs will be cleaner than ArcelorMittal was but they'll still be dirty.
Just my thoughts on the subject.
DCN
The tagline might be "Cleveland-Cliffs is coming to the rescue" but I would very much expect to see the status quo remain the name of the game in the mill towns of Northwest Indiana.
Just remember that the phrase "maximum utilization of the mills" doesn't mean they are going to ramp up to 100% capacity and the glory days of the steel based middle class are going to return under Cleveland-Cliffs like the CEO seems to imply. What it really means is the "maximum utilization of the mills" based upon market forces, much of which is beyond our control. Steel is too much of a global commodity for any one company to greatly influence.
Having said that it is good to hear there will be no mass layoffs as Cliffs takes over, though I would expect there will eventually be a reduction in workforce as the "streamlining of operations" begins to really kick in.
As for pollution, these are integrated steel mills and that means there is pollution. Existing technology should have already made water pollution a thing of the past. The reason we keep seeing problems is because companies don't want to spend the money to install or maintain the pollution control systems and find it cheaper to pay fines. As for air pollution, again, technology can eliminate a lot of the particulate and many of the chemical (SO2, NO2, Mercury) emissions but there is always going to be tons and tons of CO2 pumping out of coke ovens and blast furnaces, it's just the nature of their processes. Maybe Cliffs will be cleaner than ArcelorMittal was but they'll still be dirty.
Just my thoughts on the subject.
DCN
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Guest
Re: Cleveland-Cliffs
Hi Jon Paul,
Sooo, Cliffs is going from mining to pellet production, ....., to steel mill production. The missing link shipping. So when are they going to bring the fleet back?
Sooo, Cliffs is going from mining to pellet production, ....., to steel mill production. The missing link shipping. So when are they going to bring the fleet back?
Re: Cleveland-Cliffs
Apparently many people do including investors. Cliffs stock is up over 45% since the big inning of the year.Guest wrote:The CEO of Cleveland-Cliffs talks like the steel mills they own won't create any pollution, yet they will still be creating greenhouse gases that IS pollution. I don't take take this man seriously.
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Guest
Re: Cleveland-Cliffs
The CEO of Cleveland-Cliffs talks like the steel mills they own won't create any pollution, yet they will still be creating greenhouse gases that IS pollution. I don't take take this man seriously.