Cleveland-Cliffs reported strong sales and income in the first quarter of 2022, and CEO Lourenco Goncalves said the company’s commitment to a U.S. supply chain was a big part of making it happen.
Lourenco Goncalves, Cleveland-Cliffs' Chairman, at a press conference at Rocket Mortgage FieldHouse in March 2022. The company is the jersey patch sponsor for the Cleveland Cavaliers.CLEVELAND, Ohio —
According to the CEO, the U.S. imports about 6 million tons of pig iron each year. About 4 million tons of the pig iron, which is melted down and processed into steel, was coming from Ukraine and Russia, he said. “The Russian aggression toward Ukraine has made it absolutely clear to everyone what we at Cleveland-Cliffs have been explaining to our clients for some time: overly extended supply chains are weak and prone to break down, particularly steel supply chains that are dependent on imported feedstock,” Goncalves said in a news release.
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