Interest Rates Are a Drag on Steel Demand, Cliffs CEO Says -- Market Talk

Dow Jones

2025/06/04

1658 ET - The Federal Reserve is holding down demand for steel used in construction and manufacturing by not cutting interest rates, Cleveland-Cliffs CEO Lourenco Goncalves says. "The Fed is ridiculously late in acting," Goncalves says during remarks to reporters at a meeting of the American Iron and Steel Institute, a steel industry trade group. "For the steel industry, it's killing steel consumption." (robert.tita@wsj.com)

(END) Dow Jones Newswires

June 03, 2025 16:58 ET (20:58 GMT)

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