Cleveland-Cliffs wins $400M Defense steel contract

Investing.com - Cleveland-Cliffs Steel Corp. has been awarded a $400 million contract by the U.S. Department of War to supply grain oriented electrical steel, the Defense Logistics Agency announced today.

The indefinite-delivery/indefinite-quantity contract runs for five years with a performance completion date of Sept. 8, 2030. The contract has no option periods.

The West Chester, Ohio-based company secured the award through a sole-source acquisition using justification 10 U.S. Code 3204 (a)(3)(A), as implemented in Federal Acquisition Regulation 6.103-3 (b)(1). The contracting activity is Defense Logistics Agency Contracting Services Office, Ohio, under contract number SP8000-25-D-0008.

The steel will be used by the Army, Marine Corps, Navy, Air Force, and Space Force. Funding comes from fiscal 2025 through 2029 transaction funds.

Grain oriented electrical steel is a specialized material used in electrical equipment and transformers. Cleveland-Cliffs operates steel production facilities across the United States.

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