Cleveland-Cliffs Inc. Trading Volume Surges 69.3% to $389 Million, Ranked 199th as Hydrogen Steel Project Cancellation Sparks Market Interest

On June 17, 2025, Cleveland-Cliffs Inc. (CLF) saw a significant increase in trading volume, with a total of $389 million in shares traded, marking a 69.3% rise from the previous day. This surge placed CLF at the 199th position in terms of trading volume for the day. The stock price of CLF also rose by 4.86%, marking the second consecutive day of gains, with a total increase of 6.90% over the past two days.

Cleveland-Cliffs Inc. recently announced the cancellation of its $500 million hydrogen-powered steel project in Middletown, Ohio. This decision comes as a strategic shift for the company, which had initially planned to invest heavily in green technologies. The cancellation of this project may have implications for the company's future investments and its position in the steel industry.

The cancellation of the hydrogen steel plant project is likely to have a significant impact on Cleveland-Cliffs' stock performance. Investors may be concerned about the company's ability to execute on its strategic initiatives, particularly in the realm of sustainable technologies. The decision to cancel the project could also signal a shift in the company's priorities, potentially leading to a reallocation of resources towards more traditional steel production methods.