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"Cleveland-Cliffs Shuts Down Weirton Tin Mill After Trade Ruling"

Cleveland-Cliffs Inc. will indefinitely idle its tinplate production plant in Weirton, West Virginia in April 2024 due to an unfavorable International Trade Commission (ITC) ruling that rejected the implementation of anti-dumping and countervailing duties on tin mill products. Approximately 900 employees will be impacted, with relocation opportunities and severance packages being offered. The company's CEO expressed disappointment in the ruling, citing an uneven playing field and the impact on American jobs and the food supply chain. Cleveland-Cliffs is maintaining its 2024 sales volume guidance despite this development.

1 year ago•Source: Cleveland Cliffs

Red Sea Diversions and Security Fears Drive Up Shipping Costs

business-trade

0.55 min•2 years ago

Red Sea Diversions and Security Fears Drive Up Shipping Costs

Western importers are facing significant increases in ocean-shipping rates and delays as carriers divert ships from the Red Sea to avoid Houthi rebel attacks in Yemen. This has led to rising prices and extra fees for routing containerships on longer voyages around the Horn of Africa, causing frustration among companies shipping goods on this crucial trade lane.

via The Wall Street Journal

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"Cleveland-Cliffs Shuts Down Weirton Tin Mill After Trade Ruling"

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