Steel Products Prices North America
February 3, 2015
Cliffs CEO Says US Will Protect Their Turf Against Foreign Steel Imports
Written by Sandy Williams
Even the Cliffs Natural Resources CEO weighed in on the food of foreign steel imports and what the domestic steel industry should do to protect their markets. Lourenco Goncalves is never at a loss for words and his comments made during Cliffs quarterly earnings conference call was no exception. First, the results posted by the iron ore and coal mining company:
Cliffs Natural Resources reported fourth quarter 2014 consolidated revenue of $1.3 billion and adjusted EBITDA of $297 million. Cliffs core business, US Iron Ore generated $275 million of adjusted EBITDA in the fourth quarter with a 36 percent EBITDA margin. The company paid down $300 of debt in Q4.
