Cleveland-Cliffs Inc SWOT & PESTLE ANALYSIS
COMPANY PROFILE -Cleveland-Cliffs Inc
Business Sector :Mining & Steel
Operating Geography :United States, North America
About Cleveland-Cliffs Inc :
Cleveland-Cliffs Inc. is a company that specializes in mining and natural resources along with the production of iron ore and steel is a significant provider of automotive-grade steel and North America's largest flat-rolled steel12 producer. Its main office is in Cleveland, Ohio3, where it was established in 1847. They have the scale and technological ability to control a steel market that is becoming more and more quality focused. They have complete vertical integration, which gives them unrivalled control over the dependability and calibre of their supply chain, from the mining of raw materials to primary steelmaking to downstream stamping, tooling, and tubing. They finished building the most cutting-edge direct reduction facility in 2020. Hot briquetted iron (HBI), an eco-friendly substitute for scrap and imported pig iron used in the steelmaking process, is produced by this natural gas-powered factory. Its Toledo plant is the world's most cutting-edge, effective, and green Direct Reduction Plant. A sophisticated manufacturing and engineering services firm, Cleveland-Cliffs Tooling and Stamping, a Cleveland-Cliffs subsidiary, specializes in creative designs, hot and cold stamping, as well as intricate modular assembly and finishing choices. Their incredibly gifted tactical specialists have a history of creating tools that other manufacturers think is impractical. In 2023, it ranked 170 on the Fortune 500 list with 27,000 number of employees.
Cleveland Cliffs Inc.'s USP is that it can control its production from upstream mining to downstream stamping and tubing, giving it a competitive advantage over other steelmakers who source a larger percentage of their steelmaking raw materials from outside sources.
Cleveland-Cliffs Inc Revenue :
US$ 22,989 million - FY ending 31st December 2022 (y-o-y growth 12.45%)
US$ 20,444 million - FY ending 31st December 2021
Competitive Analysis of Cleveland-Cliffs Inc
1. Strong market position as largest supplier of automotive-grade steel in the U.S. 2. Diversified product portfolio catering to 4 end markets. 3. Vertical integrated from mined raw materials to finished products providing cost predictability & supply chain control. 4. First mover advantage for few products in U.S electrical steels segment. 5. Strong revenue generation from the past 2 years | 1. Revenue generation is heavily reliant on the U.S market, almost equal to 92%. 2. Limited geographical diversification with a focus on North America. |
1. Infrastructure policy by U.S government could lead to an increase in sales. 2. Increasing demand for steel in many sectors gives global expansion opportunities. 3. Enhance ESG practices to attract investors due to the increasing focus on ESG issues. | 1. Substitutes could reduce the demand for steel & scrap materials which will impact sales. 2. Exposed to commodity price volatility, which can have a significant impact on its revenues & profitability. |
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Detailed SWOT Analysis of Cleveland-Cliffs Inc
Strength
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Weakness
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Opportunity
1. Substitutes could reduce the demand for steel & scrap materials which will impact sales: Demand for steel has been growing steadily. However, the availability of substitutes such as aluminum, plastic, and composites could reduce the demand for steel and scrap materials, thus impacting Cleveland-Cliffs' sales. According to a study published in ScienceDirect, the use of composite materials in the automotive industry could potentially reduce the demand for steel by up to 40%. Additionally, the increased use of lightweight materials such as aluminum and carbon fiber in the aerospace and transportation sectors could also impact the steel market. The use of substitute materials and competition from other steel producers could adversely affect its business. The company is taking measures to address this challenge by focusing on product innovation, process improvements, and cost efficiencies to remain competitive. Additionally, it is exploring opportunities to expand into new markets and diversify its product offerings, such as producing high-strength steels for electric vehicles, to mitigate the potential impact of substitutes on its sales.
The remaining section under "Opportunity" is available only in the 'Complete Report' on purchase
Threat
1. Substitutes could reduce the demand for steel & scrap materials which will impact sales: Demand for steel has been growing steadily. However, the availability of substitutes such as aluminum, plastic, and composites could reduce the demand for steel and scrap materials, thus impacting Cleveland-Cliffs' sales. According to a study published in ScienceDirect, the use of composite materials in the automotive industry could potentially reduce the demand for steel by up to 40%. Additionally, the increased use of lightweight materials such as aluminum and carbon fiber in the aerospace and transportation sectors could also impact the steel market. The use of substitute materials and competition from other steel producers could adversely affect its business. The company is taking measures to address this challenge by focusing on product innovation, process improvements, and cost efficiencies to remain competitive. Additionally, it is exploring opportunities to expand into new markets and diversify its product offerings, such as producing high-strength steels for electric vehicles, to mitigate the potential impact of substitutes on its sales.
The remaining section under "Threat" is available only in the 'Complete Report' on purchase
Major Competitors :
- United States Steel Corp
- Nucor Corp
- Reliance Steel & Aluminum Co
- Steel Dynamics Inc
- Wec Energy Group Inc
- Peabody Energy Corp
- Schnitzer Steel Industries Inc
Major Brands :
- Hot-rolled
- Cold-rolled
- Coated
- Stainless & Electrical
- Plate
- Slab & Other steel products
- Other – Scrap, Iron ore, HBI, Coal & Coke
- Non-steelmaking – Stamped components, Tool & Die, Tubing
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References used in Cleveland-Cliffs Inc SWOT & PESTLE Analysis Report
1. Annual Report - https://www.clevelandcliffs.com/investors/sec-filings/annual-reports/content/0000764065-23-000032/0000764065-23-000032.pdf
2. Sustainability of steel.org - https://www.steel.org/sustainability/
3. Mining industry faces challenges - https://www.mining.com/mining-industry-faces-aging-workforce-and-retirement-challenges-report/
4. Sustainability Report - https://d1io3yog0oux5.cloudfront.net/clevelandcliffs/files/pages/clevelandcliffs/db/1149/description/CLF_SustainabilityReport_2023_04032023.pdf
The detailed complete set of references are available on request in the 'Complete report' on purchase.
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