Goncalves: Electric Vehicle Makers Turning to Steel
08/23/2022 - Material substitution is an ever-present threat for the steel industry, but it may have an edge in one particular market, according to Cleveland-Cliffs Inc. chief executive Lourenco Goncalves.
Speaking at an industry conference in Atlanta, Ga., USA, Goncalves said makers of electric vehicles are going all in on steel, the Bloomberg news service reported.
Goncalves said he also believes the company and the United Steelworkers union will successfully negotiate a new labor contract.
Bloomberg has more here.
