"We are not yet looking at a glut of seaborne iron ore. But risks are escalating, and the balance is tilting towards a bigger hit to iron ore demand than supply."
By prioritizing cash and liquidity, the company will maintain strategic flexibility in order to be well prepared for when the global economy ultimately recovers from the current situation.
At their two-year anniversary, the 232 tariffs are unquestionably hurting steel-using manufacturers and consumers across the U.S. says the Coalition of American Metal Manufacturers and Users.