The US Department of War locked in its only domestic source for specialized transformer steel by awarding a five-year, US$400 million contract to Cleveland-Cliffs Steel Corp.

Running until September 8, 2030, this sole-source, indefinite-delivery agreement carries no extension options. The deal aims to secure America's power grid and military infrastructure against foreign supply chain disruptions, as Cleveland-Cliffs is the only American company capable of producing grain-oriented electrical steel at scale.

Five military branches, including the Army, Navy, Air Force, Marine Corps, and Space Force, will use the material for strategic stockpiling and infrastructure protection.

Fiscal 2025 through 2029 transaction funds will finance the procurement of up to 53,000 short tons of steel manufactured at the company's mill in Butler, Pennsylvania. This partnership brings guaranteed government business to Cleveland-Cliffs.