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Stelco's U.S. Owner Defends Right to Idle Operations at Hamilton Steel Plant as PM Vows Legal Action

The Ohio-based owner is idling Stelco's cold-rolled and galvanized operations and says 350 to 500 jobs are at risk, officials said.

  • On Monday, Cleveland-Cliffs announced plans to indefinitely idle operations at its Hamilton plant, putting up to 500 jobs at risk.
  • Cleveland-Cliffs CEO Lourenco Goncalves linked the cuts to the trade war, stating he would not have acquired Stelco if Canada and the United States would become 'enemies in trade.'
  • Prime Minister Mark Carney vowed to 'use all powers that we have' against the company, while Goncalves insisted on Thursday he is acting as a 'responsible business owner' within his legal rights.
  • Under terms approved during the 2024 sale, Stelco must continue to employ at least the same number of unionized employees as were employed when the transaction was announced.
  • Pressed on the layoffs, Goncalves said there were 'no orders' at a price level that makes business sense, noting the market cannot accommodate domestic producers alongside imported steel.
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Bias Distribution

  • 34% of the sources lean Left, 33% of the sources are Center, 33% of the sources lean Right
34% Left

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BizToc broke the news on Monday, September 28, 2026.
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