Cleveland-Cliffs’ Steelmaking Volume (2020-2021)

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This statistic highlights Cleveland-Cliffs’ Steelmaking Volume, split across Coated steel, Cold-rolled steel, Hot-rolled steel, Iron products, Other steel products, Plate steel, and Stainless & electrical steel products.
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This statistic highlights Cleveland-Cliffs’ Steelmaking Volume, split across Coated steel, Cold-rolled steel, Hot-rolled steel, Iron products, Other steel products, Plate steel, and Stainless & electrical steel products.

Cleveland-Cliffs’ Steelmaking Volume

Volume  Q3 2020 Q2 2021  Q3 2021 Volume Share in Q3 2021
Coated steel $0.66 $1.25 $1.29 23.00%
Cold-rolled steel $0.18 $0.72 $0.73 13.00%
Hot-rolled steel $0.13 $1.39 $1.33 24.00%
Iron products 4 1 1 26%
Other steel products 0 $0.41 $0.38 7%
Plate steel 0 $0.27 $0.24 4%
Stainless & electrical steel $0.15 $0.17 $0.18 3%
Total $4.82 $5.05 $5.58 100%

(All figures in millions, except percentages)

Cleveland Cliffs’ generates its revenue through the sale of its steel and iron products across multiple regions which are produced in more than 35 steelmaking, tooling, and tabular units spread across North America. Its total production volume increased from $4.82 million in Q3 2020 to $5.58 million in Q3 2021, marking a growth of 16% on a year-on-year basis. It also increased from $5.05 million in Q2 2021 to $5.58 million in Q3 2021, marking a growth of 10% on a quarter-to-quarter basis.

Its steelmaking volume can be bifurcated as:

Coated Steel

Coated Steel accounts for 23% of the total steelmaking volume of Cleveland Cliffs in Q3 2021. It grew from $0.66 million in Q3 2020 to $1.29 million in Q3 2021, registering a growth of 97% on a year-on-year basis. It also increased marginally from $1.25 million in Q2 2021 to $1.29 million in Q3 2021, marking a growth of 4% on a quarter-to-quarter basis. 

Cold Rolled Steel

Cold Rolled Steel accounts for 13% of the total steelmaking volume of Cleveland Cliffs in Q3 2021. It grew from $0.18 million in Q3 2020 to $0.73 million in Q3 2021, registering a growth of 307% on a year-on-year basis. It also increased marginally from $0.72 million in Q2 2021 to $0.73 million in Q3 2021, marking a growth of 1% on a quarter-to-quarter basis.

Hot Rolled Steel

Hot Rolled Steel accounts for 24% of the total steelmaking volume of Cleveland Cliffs in Q3 2021 making the second-highest among all categories. It grew from $0.13 million in Q3 2020 to $1.33 million in Q3 2021, registering a growth of 894% on a year-on-year basis. It fell marginally from $1.39 million in Q2 2021 to $1.33 million in Q3 2021, marking a fall of 4% on a quarter-to-quarter basis.

Iron Products

Iron Products account for 26% of the total steelmaking volume of Cleveland Cliffs in Q3 2021, the highest share among all the categories. It fell from $3.70 million in Q3 2020 to $1.43 million in Q3 2021, registering a fall of 61% on a year-on-year basis. It also increased from $0.85 million in Q2 2021 to $1.43 million in Q3 2021, marking a growth of 68% on a quarter-to-quarter basis.

Other Steel Products 

Other steel products account for 7% of the total steelmaking volume of Cleveland Cliffs in Q3 2021. It decreased marginally from $0.41 million in Q2 2021 to $0.38 million in Q3 2021, marking a fall of 7% on a quarter-to-quarter basis.

Plate Steel

Plate Steel accounts for 4% of the total steelmaking volume of Cleveland Cliffs in Q3 2021. It decreased marginally from $0.27 million in Q2 2021 to $0.24 million in Q3 2021, marking a fall of 11% on a quarter-to-quarter basis.

Stainless and Electrical Steel

Stainless & Electrical Steel accounts for 3% of the total steelmaking volume of Cleveland Cliffs in Q3 2021, the lowest share among the categories. It grew from $0.15 million in Q3 2020 to $0.18 million in Q3 2021, registering a growth of 21% on a year-on-year basis. It also increased marginally from $0.17 million in Q2 2021 to $0.18 million in Q3 2021, marking a growth of 5% on a quarter-to-quarter basis.

About the Company 

Founded as a mine operator in 1847, Cleveland Cliffs is the largest flat-rolled steel producer and the largest supplier of iron ore pellets in North America. The company is headquartered in Cleveland, Ohio, and employs more than 25,000 people across its diverse operations. 

In 2020, the company acquired two major steel producers in North America, namely, AK Steel and ArcelorMittal US with the aim of integrating their iron ore business with quality-focused steel production and putting their emphasis on the Automotive end market. The company has diverse product offerings which include custom-made pallets & HBI, flat-rolled carbon steel, stainless steel, electrical steel, plate steel, tinplate, and long steel products. It also includes carbon & stainless steel tubing, hot & cold stamping, and tooling. The company is traded at the New York Stock Exchange under the ticker name CLF and its stock is a component of the S&P 400 Index.  Some of the key competitors of Cleveland Cliffs include Howmet Aerospace, Gerdau, Sandvik, China Minmetals, and Barrick Gold Corporation.

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