Cliffs Looking for Buyer For Its Toledo Iron Ore Plant -- Market Talk

Dow Jones

2025/10/21

1217 ET - Cleveland-Cliffs is doubling down on its older steel mills with blast furnaces by revealing that it's shopping a five-year-old Toledo, Ohio, plant that reduces iron ore for use in newer electric furnace steel plants. CEO Lourenco Goncalves says his inability to acquire US Steel and pair the plant's output with US Steel's new Big River steel mill in Arkansas leaves the iron ore plant expendable. Goncalves says he has no plans to add electric furnaces, even though they're now the predominant method for making steel in the U.S. "I don't see any specific strategic value of keeping" the plant, he told analysts. Shares jump 23% to $16.39. (robert.tita@wsj.com)

(END) Dow Jones Newswires

October 20, 2025 12:17 ET (16:17 GMT)

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CEO Lourenco Goncalves says his inability to acquire US Steel and pair the plant's output with US Steel's new Big River steel mill in Arkansas leaves the iron ore plant expendable. Goncalves says he has no plans to add electric furnaces, even though they're now the predominant method for making steel in the U.S. \"I don't see any specific strategic value of keeping\" the plant, he told analysts. Shares jump 23% to $16.39. 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CEO Lourenco Goncalves says his inability to acquire US Steel and pair the plant's output with US Steel's new Big River steel mill in Arkansas leaves the iron ore plant expendable. Goncalves says he has no plans to add electric furnaces, even though they're now the predominant method for making steel in the U.S. \"I don't see any specific strategic value of keeping\" the plant, he told analysts. Shares jump 23% to $16.39. (robert.tita@wsj.com) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  October 20, 2025 12:17 ET (16:17 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4588","symbol_name":"碎股","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2577986919","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2577986919","pubTimestamp":1760977020,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"1217 ET - Cleveland-Cliffs is doubling down on its older steel mills with blast furnaces by revealing that it's shopping a five-year-old Toledo, Ohio, plant that reduces iron ore for use in newer electric furnace steel plants. CEO Lourenco Goncalves says his inability to acquire US Steel and pair the plant's output with US Steel's new Big River steel mill in Arkansas leaves the iron ore plant expendable. Goncalves says he has no plans to add electric furnaces, even though they're now the predominant method for making steel in the U.S. \"I don't see any specific strategic value of keeping\" the plant, he told analysts. Shares jump 23% to $16.39. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4588":"碎股","CLF":"克利夫兰克里夫","BK4585":"ETF&股票定投概念","BK4006":"钢铁"},"translate_title":"Cliffs正在为其托莱多铁矿石厂寻找买家——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CLF":0.9},"content_text":"1217 ET - Cleveland-Cliffs is doubling down on its older steel mills with blast furnaces by revealing that it's shopping a five-year-old Toledo, Ohio, plant that reduces iron ore for use in newer electric furnace steel plants. CEO Lourenco Goncalves says his inability to acquire US Steel and pair the plant's output with US Steel's new Big River steel mill in Arkansas leaves the iron ore plant expendable. Goncalves says he has no plans to add electric furnaces, even though they're now the predominant method for making steel in the U.S. \"I don't see any specific strategic value of keeping\" the plant, he told analysts. Shares jump 23% to $16.39. (robert.tita@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  October 20, 2025 12:17 ET (16:17 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}