Cleveland-Cliffs to idle output at Canada steel plant, blames tariffs, says CBC

By Reuters News

- Cleveland-Cliffs CLF.N is idling some production at its Hamilton, Ontario plant in Canada and will lay off hundreds of workers, citing the damage done by US tariffs, CBC News said on Monday.

* Citing an internal memo, CBC said the company would indefinitely idle its cold-rolled and coated operations at the Stelco plant, with operations set to begin winding down on October 9. Up to 500 employees will be affected.

* US President Donald Trump signed an executive order in June 2025 applying an up to 50% tariff to certain steel and aluminum imports from Canada.

* "Import volumes remain at levels that prevent Stelco from being able to bridge the gap in the market created by the trade crisis," CBC cited the memo as saying.

* In a media release, Stelco confirmed it was idling finishing operations in Hamilton, and said it would concentrate steel production at its Nanticoke, Ontario works. Hamilton employees would be offered jobs at the Nanticoke plant, it said.

Capital Com is an execution-only service provider. The present material must be regarded as marketing communication and should not be interpreted as investment research or investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page, then you do so entirely at your own risk