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Cleveland-Cliffs CEO welcomes Nippon Steel-U.S. Steel deal after opposing it

Cleveland-Cliffs' CEO had long voiced his opposition to the Nippon Steel deal, saying it would threaten the U.S. steel industry. (Photo by Ryohei Yasoshima) AZUSA KAWAKAMI NEW YORK -- The head of American steelmaker Cleveland-Cliffs, one of the biggest critics of Nippon Steel's takeover of U.S. Steel, on Monday said the deal highlights the American market's strength. Cleveland-Cliffs CEO Lourenco Goncalves' new comments, made on an April-June earnings call, were his first about the purchase since its completion last month.