Cleveland-Cliffs (CLF) announced the commissioning of its new Vertical Stainless Bright Anneal Line at its Coshocton Works facility in Coshocton, Ohio. This $150M capital investment has been completed and will supply premium stainless steel for high-end automotive and critical appliance applications. The new annealing line uses a 100% hydrogen atmosphere, replacing the conventional acid-based processing, and includes a hydrogen recovery unit to recycle hydrogen and use a 50/50 mix of new and used hydrogen in the process.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CLF:
- Canada imposes steel, aluminum tariffs to curb imports, FT reports
- X, CLF, NUE: Canada to Raise Steel and Aluminum Counter-Tariffs
- Mixed options sentiment in Cleveland-Cliffs with shares down 8.17%
- Trump Trade: U.S. President says China getting 10% tariffs in ‘done’ deal
- Closing Bell Movers: Gitlab down 13%, Dave & Busters up 10% post earnings