48 mins ago
Stelco to Idle Hamilton Steel Operations as US Tariffs
Stelco is a Canadian company that makes steel.
It plans to pause some work at its Hamilton plant for an unknown amount of time.
The paused work makes cold-rolled and coated steel products.
Stelco says US tariffs and trade problems have made selling these products much harder.
The company expects the change to begin on October 9.
A local newspaper reported that about 350 jobs could be lost.
Stelco says it will make more hot-rolled steel at another plant instead.
The company says it can still supply customers with hot-rolled steel.
Stelco plans to indefinitely idle cold-rolled and coated operations at Hamilton Works in Ontario.
The wind-down is expected to begin October 9, with about 350 job cuts reported by the Hamilton Spectator.
The company attributed the move to US tariffs and broader trade disruptions affecting Canadian steel.
Stelco will concentrate production at Lake Erie Works, increasing its output of hot-rolled steel.
Cleveland-Cliffs shares fell as much as 9.5% after the announcement, their largest intraday decline since April.
- Who
- Stelco, a Cleveland-Cliffs Inc. unit, is suspending some operations and may cut about 350 jobs.
- What
- The company plans to indefinitely idle cold-rolled and coated operations at Hamilton Works while concentrating production at Lake Erie Works.
- Where
- Hamilton Works in Hamilton, Ontario, and Lake Erie Works in Nanticoke, Ontario.
- When
- The wind-down is expected to begin October 9; the company’s customer letter was dated September 28.
- Why
- Stelco says US tariffs, reduced demand for affected products, elevated imports into Canada, and wider trade disruptions have created an unsustainable market.
Key facts
- Company owner
- Cleveland-Cliffs Inc. acquired Stelco in 2024.
- Affected operations
- Cold-rolled and coated operations at Hamilton Works.
- Expected start
- The wind-down is expected to begin October 9.
- Reported job cuts
- The Hamilton Spectator reported that about 350 jobs may be eliminated.
- US steel tariff
- The article says Section 232 tariffs on imported steel were set at 50% in June 2025 and remain in effect.
- Production shift
- Stelco plans to concentrate steel production at Lake Erie Works, with a higher share of hot-rolled steel.
- Share reaction
- Cleveland-Cliffs shares fell as much as 9.5% in New York after the announcement.
Quotes
Patricia Persico
Cleveland-Cliffs spokesperson
“Stelco is currently idling its finishing operations in Hamilton, while concentrating steel production at its Lake Erie Works. Total tonnage of steel produced will not be affected, albeit we will see a change in product mix, with a higher concentration of hot rolled steel products.”
livemint.com
“This is not a surprise considering the fact that Canada exports about 50% of its steel production, of which 95% is sent to the United States”
livemint.com
Stelco
Canadian steelmaker and Cleveland-Cliffs unit
“This is an unfortunate but necessary action to help ensure the survival of Stelco in what has become a challenging and unsustainable market for cold-rolled and coated products caused by the ongoing and sustained trade disruptions impacting the Canadian steel industry”
livemint.com
Sources
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