Steel Mills
May 12, 2020
Cliffs Says It's Well Prepared for Post-COVID Recovery
Written by Sandy Williams
Cleveland-Cliffs expects operations to normalize during the second quarter as end-markets begin recovering from the COVID-19 pandemic.
“Although the pandemic effect led to automotive plant shutdowns over the past six weeks, the timing and pace of production restarts as well as consumer sales data have both exceeded our expectations,” said Cliffs’ Chairman, President and CEO Lourenco Goncalves. “If the automotive manufacturers continue to restart production as they have indicated to us and already started to do, our operations will normalize throughout the balance of the second quarter, with a fairly strong second half of the year.”
