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Cleveland-Cliffs stock under $40 gains from US steel tariffs and auto demand despite debt risks.

Market News
07 Jun 2026
24/7 Wall Street
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Bullish
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Cleveland-Cliffs, North America's largest flat-rolled steel producer, trades near $12 with strong upside potential due to US steel import tariffs and solid automotive contracts. Q1 2026 results beat expectations with rising revenue and positive EBITDA, signaling a turnaround despite a recent net loss and high debt. The company's growth depends on continued tariff enforcement and stable auto demand, while risks include heavy leverage and concentrated customers. Investors should balance these factors when considering the stock's tariff-driven opportunity under $40.

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