Cleveland Cliffs
Cleveland-Cliffs is North America's largest flat-rolled steel producer, operating a fully vertically integrated value chain from iron ore mining through HBI production, blast furnace and EAF steelmaking, and downstream stamping and tubular components. It supplies approximately 50% of steel to domestic automotive OEMs and roughly 30% of the North American flat-rolled market.
- Company typePublic
- Founded1847
- HeadquartersCleveland, United States
- Headcount5,001–10,000
- GTM typeB2B
- OfferingHardware or Manufacturing
What Cleveland Cliffs does
Cleveland-Cliffs Inc. (NYSE: CLF), founded in 1847 and headquartered in Cleveland, Ohio, is the largest flat-rolled steel producer in North America, operating a fully vertically integrated value chain from iron ore mining (Tilden, Northshore, United Taconite, Hibbing Taconite JV in Minnesota and Michigan) through metallurgical coke and coal production, blast furnace and basic oxygen steelmaking, the Toledo Direct Reduction Plant producing Hot-Briquetted Iron (HBI), electric arc furnaces, flat-rolled finishing (hot-rolled, cold-rolled, hot-dip galvanized/galvannealed), and downstream tubular components, tooling, and stamping. The company controls approximately 20 million net tons of steelmaking capacity, holds roughly 30% of the North American flat-rolled market, and supplies approximately 50% of the steel used by domestic automotive manufacturers. Specialty products include TRAN-COR (the only U.S.-made high-permeability electrical steel), Regular Grain-Oriented electrical steel, advanced high-strength steels (NEXMET, ULTRALUME Gen-3), stainless steels, and steel plate for military/infrastructure use.
The business model is enterprise B2B with direct sales to automotive OEMs (GM, Ford, Stellantis), industrial manufacturers, distributors/converters, and other steel producers. Approximately 45% of sales come from long-term fixed-price contracts, customer retention exceeds 95% at the top tier, and pricing is quote-based per net ton (Q1 2026 average net selling price of $1,048 per net ton). FY2025 revenue was $18.6 billion across roughly four end-markets: automotive (~33% of 2025 steel shipments), distributors and converters (31% of Q1 2026 revenue, $1.5B), infrastructure and manufacturing (29%, $1.4B), and steel producers (11%, $552M). Recent additions include the November 2024 acquisition of Stelco Holdings (~$2.5B enterprise value), adding Canadian production at Hamilton and Lake Erie Works, and a strategic MoU with POSCO (September 2025) under which POSCO will invest over $700M for approximately 10% of Cleveland-Cliffs.
The company employs approximately 25,000–30,000 people across the U.S. and Canada and is actively investing in decarbonization: up to $575 million in U.S. Department of Energy funding for hydrogen-ready and electrified furnace projects in Ohio and Pennsylvania, the world's first full-scale hydrogen injection trials at the Indiana Harbor #7 blast furnace, and a UW-Madison research partnership on solid-oxide electrolyzer technology. The April 2026 Palantir AI partnership represents the first major deployment of AI for production planning and predictive analytics across flat-rolled operations. The company is navigating a cyclical downturn — FY2025 GAAP net loss of $1.4 billion, idling of the C6 blast furnace at Cleveland Works, and 3,500 Canadian layoffs — while defending its domestic market position through active advocacy for Section 232 tariffs (raised to 50% in 2025) that reduced finished steel imports by 17% in 2025.
Cleveland Cliffs firmographics
Firmographics- Name
- Cleveland Cliffs
- Legal name
- Cleveland-Cliffs Inc.
- Website
- https://clevelandcliffs.com
- Company type
- Public
- Founded year
- 1847
- Operating status
- Operating
- Headcount range
- 5,001–10,000 employees
- Short description
- Cleveland-Cliffs is North America's largest flat-rolled steel producer, operating a fully vertically integrated value chain from iron ore mining through HBI production, blast furnace and EAF steelmaking, and downstream stamping and tubular components. It supplies approximately 50% of steel to domestic automotive OEMs and roughly 30% of the North American flat-rolled market.
- Ownership category
- akta.pro rank
Cleveland Cliffs industry classification
Industry- Product category
- Flat-Rolled Steel Manufacturing
- NAICS
- Rolled Steel Shape Manufacturing (331221), Rolling and Drawing of Purchased Steel (33122), Steel Product Manufacturing from Purchased Steel (3312), Sheet Metal Work Manufacturing (332322)
- SIC
- Steel Works, Blast Furnaces & Rolling & Finishing Mills (3310), Steel Works, Blast Furnaces & Rolling Mills (Coke Ovens) (3312), Metal Mining (1000), Sheet Metal Work (3444)
- akta.pro primary industry
- Hot Rolling & Primary Mills (Plate, Hot-Rolled Coil/Sheet, Strip) (IMAKABAE)
- akta.pro secondary industry
- Construction & Demolition (C&D) Metal Recycling (Structural Steel, Rebar, Roofing, Wire) (IMAKAMAF)
Keywords
Where Cleveland Cliffs is headquartered
LocationHeadquarters
- HQ city
- Cleveland
- HQ country
- United States
- HQ region
- North America
Offices29 records
Markets served
Cleveland Cliffs business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Supply Chain, Operations, Personnel, Infrastructure, Technology or R&D, Marketing or Sales
Revenue model
- Flat-Rolled Steel Products: Primary revenue from sale of flat-rolled steel products including hot-rolled, cold-rolled, coated, plate, stainless and electrical steels. Revenue approximately $18.6 billion in 2025
- Iron Ore Pellets: Sale of iron ore pellets from mining operations in Minnesota and Michigan. pellets are primary feedstock for blast furnace steelmaking
- Hot-Briquetted Iron (HBI): Premium metallic product sold to third parties and used internally at blast furnaces, basic oxygen furnaces, and electric arc furnaces
- Downstream Products: Tubular components, tooling and stamping products for automotive and industrial applications
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Multi-year contract | Steel products priced per net ton based on product type, grade, and contract terms |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels6 records
Cleveland Cliffs product offering
Product offeringCore offering
Cleveland-Cliffs is a vertically integrated flat-rolled steel producer that operates across the full value chain from iron ore mining and pellet production through primary steelmaking (blast furnaces, BOFs, EAFs, direct reduction) to finishing operations producing hot-rolled, cold-rolled, coated, electrical, stainless and plate steels, plus downstream tubular components and tooling/stamping. The company sells these steel products primarily to automotive OEMs, industrial manufacturers, steel service centers/distributors and other steel producers.
Product overview
Cleveland-Cliffs is a vertically integrated North American flat-rolled steel producer operating from iron ore mining through primary steelmaking to downstream finishing, stamping, tooling, and tubular components. The company operates multiple production facilities across the United States and Canada. Its product portfolio is organized into: upstream metallics (iron ore pellets from Minnesota and Michigan mines, and Hot-Briquetted Iron from the Toledo Direct Reduction Plant); carbon flat-rolled steels (hot-rolled, cold-rolled, and hot-dip galvanized sheet); specialty steels (electrical steels including TRAN-COR and grain-oriented products at Butler Works, stainless steels at Coshocton and Mansfield, and Advanced High-Strength Steels for automotive lightweighting); and downstream products (tubular components, tooling and stamping operations). The company is the largest flat-rolled steel producer in North America and a leading supplier to the automotive industry.
Differentiator
Problem solved
Functional benefit
Brands
- TRAN-COR: High-permeability electrical steel made in the United States, used in power transformers.
- ZINCGRIP
- NEXMET
- ULTRALUME
- CARLITE
Products and services
- Hot-Briquetted Iron (HBI) A compact, high-quality, environmentally friendly metallic source produced at the Toledo Direct Reduction Plant, sold to third parties and used internally as premium feedstock for steelmaking in blast furnaces, basic oxygen furnaces, and electric arc furnaces.
- Iron Ore Pellets
Quantifiable outcome
- 27% lower Scope 1 and 2 GHG emissions intensity than global average integrated steel mills
- +3 more outcomes
Companies that use Cleveland Cliffs
Customer profileNamed customers5 records
Segments5 records
Ideal customer profiles5 records
Cleveland Cliffs technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature6 records
Cleveland Cliffs partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered core and minor.
- Palantir TechnologiescoreThree-year strategic partnership to deploy AI solutions across Cleveland-Cliffs' flat-rolled steel manufacturing operations. AI platform integrated into production planning, order entry, and operational workflows to enable real-time data integration, predictive analytics, and enhanced decision-making.
- Cleveland CavaliersminorMulti-year marketing partnership with NBA team including jersey patch sponsorship starting 2022-23 season. Cliffs logo appears on player uniforms - only steel company with NBA jersey patch partnership.
- University of Wisconsin-Madison (HERD Lab)minorResearch partnership on solid-oxide electrolyzer (SOE) technology to recycle steelmaking flue gas back into carbon monoxide and hydrogen for reuse in iron reduction, achieving over 94% emissions reduction compared to natural gas DRI systems.
- FuelCell EnergyminorIndustry partner in solid-oxide electrolyzer technology research project with University of Wisconsin-Madison for decarbonization of steel production.
- Northshore MiningcoreNorthshore Mining supplies iron ore pellets to Cleveland-Cliffs' steelmaking operations. Mesabi Trust holds mineral interests over part of Mesabi Iron Range and earns escalating royalty payments from Northshore on every ton of iron ore pellets shipped.
Scale indicators16 records
Recent moves9 records
Expansion highlights6 records
Cleveland Cliffs competitors and assessment
Company assessmentDirect peers
- Nucor Corporation: Nucor is the largest steel producer in the United States and a direct competitor in flat-rolled steel via its EAF-based sheet mills, competing head-to-head with Cleveland-Cliffs for automotive and construction customers.
- Steel Dynamics, Inc. Steel Dynamics operates EAF-based flat-rolled steel mills serving automotive, construction, and energy end markets, directly overlapping with Cleveland-Cliffs in sheet products and AHSS.
- SSAB AB: SSAB is a Swedish specialty steel producer with a leading position in Advanced High-Strength Steels and a parallel decarbonization roadmap (HYBRIT), making it highly comparable to CLF's AHSS and green steel initiatives.
- POSCO Holdings Inc. POSCO is Korea's largest integrated flat-rolled steel producer and a direct global peer; it is also CLF's new strategic partner and ~10% shareholder under the 2025 MoU, making it both a comparable and a capital/technology partner.
- United States Steel Corporation: U.S. Steel is a leading integrated flat-rolled steel producer with a comparable mine-to-mill footprint and a similar automotive customer base, making it the closest U.S. competitor to Cleveland-Cliffs.
- Gerdau S.A. Gerdau is a major Americas-based long and flat-rolled steel producer with operations in North and South America, comparable to CLF in regional flat-rolled supply and downstream automotive and construction customers.
Emerging players
- Vale S.A. Vale is one of the world's largest iron ore producers and a key upstream peer to CLF's mining operations, supplying global seaborne iron ore that competes with CLF's captive pellets in pricing dynamics.
Broad incumbents
- ArcelorMittal S.A. ArcelorMittal is the world's largest steelmaker and a broad incumbent; CLF acquired its U.S. assets in 2020, and ArcelorMittal remains a global benchmark for integrated flat-rolled production and automotive steel grades.
Regional players
- Ternium S.A. Ternium is a leading Latin American flat-rolled steel producer with automotive-focused product lines; it competes with CLF in automotive steel specifications and serves as a regional benchmark for the Americas.
- Algoma Steel Group Inc. Algoma is a Canadian integrated flat-rolled steel producer based in Sault Ste. Marie, comparable to Cleveland-Cliffs' Stelco asset in Hamilton and a direct regional competitor in the Ontario/Canadian flat-rolled market.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Cleveland Cliffs social profiles
Digital presenceCleveland Cliffs financial estimates
Financial estimateRevenue estimate
Valuation estimate
Cleveland Cliffs leadership team
Management profileNumber of profiles
Profiles16 records
Cleveland Cliffs subsidiaries and ownership
Company hierarchySubsidiaries8 records
Cleveland Cliffs funding detail
Funding detailFunding overview
Funding rounds10 records
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Cleveland Cliffs M&A and investment
M&A and investmentM&A6 records
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Cleveland Cliffs
What does Cleveland Cliffs do?
Cleveland-Cliffs is a vertically integrated flat-rolled steel producer that operates across the full value chain from iron ore mining and pellet production through primary steelmaking (blast furnaces, BOFs, EAFs, direct reduction) to finishing operations producing hot-rolled, cold-rolled, coated, electrical, stainless and plate steels, plus downstream tubular components and tooling/stamping. The company sells these steel products primarily to automotive OEMs, industrial manufacturers, steel service centers/distributors and other steel producers.
Is Cleveland Cliffs a public or private company?
Cleveland Cliffs is a public company. It is classified as public and is currently operating.
When was Cleveland Cliffs founded?
Cleveland Cliffs was founded in 1847. It employs 5,001 to 10,000 people.
Where is Cleveland Cliffs based?
Cleveland Cliffs is headquartered in Cleveland, United States, in the North America region.
How does Cleveland Cliffs make money?
Four revenue lines are on record. Flat-Rolled Steel Products are the primary driver. The others are iron Ore Pellets, hot-Briquetted Iron (HBI) and downstream Products.
Who are Cleveland Cliffs's main competitors?
Direct peers on record are Nucor Corporation, Steel Dynamics, Inc., SSAB AB, POSCO Holdings Inc., United States Steel Corporation and Gerdau S.A.. Vale S.A. is listed as an emerging player. ArcelorMittal S.A. is listed as a broad incumbent. Regional players are Ternium S.A. and Algoma Steel Group Inc..
Does Cleveland Cliffs have an API?
No public API is recorded for Cleveland Cliffs.
What industry is Cleveland Cliffs in?
Cleveland Cliffs's product category is Flat-Rolled Steel Manufacturing. Its primary akta.pro industry code is IMAKABAE, Hot Rolling & Primary Mills (Plate, Hot-Rolled Coil/Sheet, Strip), with a secondary code of IMAKAMAF, Construction & Demolition (C&D) Metal Recycling (Structural Steel, Rebar, Roofing, Wire). Its NAICS code is 331221 and its SIC code is 3310.