【SMM Steel】Cleveland-Cliffs rebounds with $4.9bn in Q1 revenue amid steel demand surge

Published: Apr 22, 2026 15:22

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【SMM Steel】Cleveland-Cliffs posted Q1 revenue of $4.9bn, up $600m q-o-q, fueled by rising domestic flat-rolled steel demand as tariffs and geopolitical tensions pushed prices higher. The CEO noted the order book is full, with more manufacturers shifting back to steel. Despite a net loss of $229m, results improved significantly q-o-q and y-o-y, weighed down by a temporary spike in energy costs and winter-related disruptions.

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