Cleveland-Cliffs said it can meet future growth in automotive steel demand without building new steel mills, supported by its existing galvanizing and coating lines.

The company has successfully positioned steel as a substitute for aluminum by using current aluminum forming equipment, securing mass production orders without requiring new tooling or customer capital investment.

In Canada, tighter import restrictions have stabilized the market and are expected to support its subsidiary Stelco’s operations in 2026. 

Meanwhile, Cleveland-Cliffs is in ongoing talks with Posco on a potential strategic partnership, aiming to finalize an agreement in the first half of 2026. The company also expects higher capacity utilization and improved price realization as market conditions recover.