Cleveland-Cliffs Enters the Scrap Business and Announces Acquisition
About this Location
Cleveland-Cliffs' Toledo Direct Reduction plant, completed in 2020, is the first and the only supplier of HBI in the Great Lakes region. This natural-gas-based plant supplies high-quality hot-briquetted iron (HBI), an environmentally friendly alternative to scrap and imported pig iron. Producing and using HBI also contributes to the company's greenhouse gas reduction initiative. Given the increasing scarcity of domestic prime scrap, and growing EAF capacity in the U.S., the Toledo direct reduction plant is expected to generate significant value for the company going forward.