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Stelco cites foreign imports, 58% plunge in U.S. steel exports to defend layoffs
Stelco says tariffs and foreign imports cut demand by more than 1 million tonnes a year, as government lawyers review its response.
- Stelco announced plans to lay off up to 500 workers at its Hamilton Works and Lake Erie Works facilities, prompting Industry Minister Mélanie Joly to demand an explanation of how the company will honor binding employment commitments made by owner Cleveland-Cliffs.
- In an October 9 letter, Stelco president Paul Simon argued that declining exports to the United States and foreign competition have dramatically altered market conditions, rendering previous employment promises unenforceable.
- Exports of cold-rolled and coated steel to the United States plunged 58 per cent, with shipments falling by 226,000 tonnes in the second quarter of 2026 compared with the 2024 quarterly average.
- On October 10, Industry Minister Joly countered that Stelco's legally binding employment commitments remain in force, with government lawyers reviewing the company's response for potential legal action.
- Simon noted that weaker domestic demand and foreign imports have shrunk the market for products made at Hamilton Works by more than one million tonnes annually, roughly twice the plant's historical production.
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The Toronto Star+24 Reposted by 24 other sources
Stelco cites foreign imports, 58% plunge in U.S. steel exports to defend layoffs
In a letter to Canada's industry minister, Stelco president Paul Simon says Canadian exports of those steel products to the United States fell by 226,000 tonnes in the second quarter
·Toronto, Canada
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Stelco announced at the end of last month its intention to lay off up to 500 employees.
·Montreal, Canada
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Total News Sources27
Leaning Left16Leaning Right0Center8Last UpdatedBias Distribution67% Left
Bias Distribution
- 67% of the sources lean Left
67% Left
L 67%
C 33%
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