[Stelco to lay off 350 workers as Hamilton Works idles finishing lines]

Published: Sep 29, 2026 10:43 (GMT+8)

Save

Cleveland-Cliffs-owned Stelco will indefinitely idle finishing operations at its Hamilton Works plant in Ontario, with United Steelworkers Local 1005 confirming 350 layoffs. Stelco said total steel output will be unaffected, but the product mix will shift toward a higher concentration of hot rolled steel, with steelmaking kept at Lake Erie Works, where jobs will be offered to Hamilton staff and many affected workers are expected to be absorbed. Cleveland-Cliffs bought Stelco for 3.4 billion USD in 2024. Ontario pledged aid, citing a nearly 50% funding increase for its Hamilton POWER Centre and a 30 billion USD tariff relief plan. The US imposed a 50% tariff on Canadian steel on Aug 22.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

10 hours ago

[SMM Hot Rolled Arrivals] Arrivals Decreased WoW This Period

10 hours ago

12 hours ago

[Flash | Antofagasta's Centinela Faces Strike Threat Over Labor Dispute]

Recently, Centinela, a core Antofagasta mine, faced severe labor challenges. On September 28, its Minera Esperanza and Distrito Centinela unions voted 98.73% in favor of a strike over compensation discrepancies, rejecting management's contract offer. As an important associated molybdenum source, Centinela's H1 2026 molybdenum output fell ~17.6% year-on-year to 1,400 tonnes. The strike vote threatens further supply stability. While production continues pending mediation results, the potential impact on operations and long-term project progress requires close monitoring.

12 hours ago

MMi Daily Iron Ore Report (September 29)

Iron ore futures were weaker today. The DCE most-traded I2701 contract settled at 699 yuan/mt, down 0.78% from the previous session. In the spot market, traders were reluctant to offer and mills stayed on the sidelines. Spot trading was thin, with Qingdao port prices down 0-3 yuan/mt.

12 hours ago