Cleveland-Cliffs Shares Rebound After Selloff Triggered by Plant Closure
Cleveland-Cliffs (CLF) shares rose 4.2% on Thursday after a week-long decline that followed the announcement of an indefinite shutdown at its Stelco subsidiary's Hamilton Works plant in Ontario, Canada. The closure affects cold-rolled and coated steel operations and impacts hundreds of jobs. The selloff had previously driven CLF down by 10%, reflecting investor concerns over operational disruptions and potential financial implications from the idling of key production lines at Stelco.
Tickers: $CLF