[SMM Express] Posco considering investing Cleveland-Cliffs, the second-largest steelmaker in US

Posco has signed a strategic partnership with Cleveland-Cliffs, the second-largest steelmaker in the United States, and is considering investing in the U.S. steelmaker. The move is seen as a way to mitigate trade risks, namely the 50 percent tariff on steel imports that U.S. continues to endorse.

The company said the partnership will allow Posco to expand its existing customer base in the United States and stably supply products that meet U.S. origin requirements. According to Cleveland-Cliffs, the two companies aim to announce a binding agreement between the fourth quarter of this year and the first quarter of next year. All procedures are expected to be finalized in 2026.