Cleveland-Cliffs Proposes to Acquire U.S. Steel View News Release USW Endorsement Letter Investor Presentation Steelworkers Reiterate Vow to Only Back Cliffs in US Steel Deal USW Rights Explained
About this Location
Cleveland-Cliffs' Toledo Direct Reduction plant, completed in 2020, is the first and the only producer of HBI in the Great Lakes region. This natural-gas-based plant supplies high-quality hot-briquetted iron (HBI), a low-carbon iron feedstock used in our blast furnaces, BOFs and EAFs. Producing and using HBI contributes to the company's greenhouse gas reduction initiative. Given the facility’s low-cost production, the industry focus on decarbonization, the increasing scarcity of domestic prime scrap, and the growing EAF capacity in the U.S., the Toledo direct reduction plant is expected to generate significant value for the company going forward.
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