Final Thoughts
February 22, 2022
Final Thoughts
Written by John Packard
For those of you who don’t pay attention to such things, today’s date is 2/22/22….
On Monday, Cleveland-Cliffs announced on their website their intention of indefinitely idling the #4 blast furnace at Indiana Harbor, and a $50 per ton ($2.50/cwt) price increase on orders slated for production in April 2022. Cliffs CEO Lourenco Goncalves spoke at the Tampa Steel Conference last week and alluded to the prospect of idling unnecessary furnaces as they “stretched” their melt using DRI and more scrap in their BOFs. In the announcement, Cliffs advised this action would not result in any changes to 2022 steel shipment volumes.
