Cleveland-Cliffs Plans to Reduce 2025 Capex, Idle Non-Core Assets

May 12, 2025--Researched by Industrial Info Resources (Sugar Land, Texas)--Cleveland-Cliffs Incorporated (NYSE:CLF) (Cleveland, Ohio), which is the largest supplier of automotive-grade steel in the U.S., expects to cut 2025 capital expenditures (capex) from $700 million to approximately $625 million and plans to boost its financial standing by fully or partially idling six facilities. Industrial Info is tracking US$3.6 billion worth of active and proposed projects across the U.S. and Canada from Cleveland-Cliffs, although the company expects a $1 billion-plus project will see a reduced cost in the future.