Cleveland-Cliffs shares fell 4%, a sharper decline than its steel rivals, due to uncertainty over U.S. trade policy impacting its integrated operations in both the U.S. and Canada. The company owns Stelco, a Canadian steelmaker, so tariffs on Canadian steel simultaneously raise domestic prices but also increase costs on its Stelco imports, creating conflicting effects. Meanwhile, Cleveland-Cliffs is expanding its Butler Works plant to produce electrical steel for power-grid transformers, which could provide a new revenue source independent of trade issues. The stock's future depends on whether this grid-related growth offsets tariff impacts, with ongoing trade policy clarity crucial for investors.
Cleveland-Cliffs shares are down 3.10% at USD 12.19 on Pluang, reflecting a sharper drop than its steel peers Nucor and Steel Dynamics, which fell 0.88% and 0.85% respectively. Nucor trades at USD 254.85 and Steel Dynamics at USD 240.86. These figures are current as of Oct 16, 2026 01:01 WIB.
Cleveland-Cliffs is set to report earnings on October 19, prompting options traders to brace for significant price volatility. After a nearly 16% one-day jump following its last quarterly report, implied volatility for short-term options has surged, ...
Cleveland-Cliffs reported a strong Q2 with EBITDA tripling to $286 million and Q3 guidance at $575 million, supported by government grants and contract wins for facility upgrades. However, operational execution and debt reduction have lagged expectat...
