Steel Giant Cleveland Cliffs Will Enter the Scrap Business. The Stock Rises Sharply.
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https://www.barrons.com/articles/cleveland-cliffs-stock-scrap-acquisition-51633970295
Oct. 11, 2021 12:38 p.m. ET
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North America’s largest alloy producer, Cleveland-Cliffs, announced Monday it was acquiring Ferrous Processing and Trading Co., a metallic recycler, successful a woody with an endeavor worth of $775 million.
Shares of Cleveland-Cliffs (ticker: CLF) were rising much than 6% to $21.88 connected Monday.
The woody marks Cleveland-Cliffs introduction into the scrap metal...
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