Cleveland-Cliffs Applauds Preliminary Determination by the U.S. Department of Commerce in Tin Mill Products Trade Case
June 21 2023 - 3:35PM
Business Wire
Cleveland-Cliffs Inc. (NYSE: CLF) today announced that it
applauds the preliminary determination reached by the U. S.
Department of Commerce that producers of Tin Mill Products from
China benefit from significant countervailable government
subsidies. The subsidy rate for Baoshan Iron and Steel is 542.55
percent and for Jingtang Iron and Steel is 89.02 percent. The rate
of 89.02 percent applies to all other exporters. In addition,
Commerce announced that it was initiating an investigation of
additional subsidies alleged by Cleveland-Cliffs and the United
Steelworks (USW) as petitioners. Importers of subject Tin Mill
Products will be required to post cash deposits upon
publication.
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 serve a diverse range of other
markets due to our 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.
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MEDIA CONTACT: Patricia Persico Senior Director,
Corporate Communications (216) 694-5316
INVESTOR CONTACT: James Kerr Manager, Investor Relations
(216) 694-7719
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