Cleveland-Cliffs Inc. - CLF STOCK NEWS

Cleveland-Cliffs Inc. (NYSE: CLF) recently conducted its third annual Souper Bowl Food Drive, collecting 240,000 pounds of non-perishable food. The company and its foundation donated a total of $500,000 to over 48 food distribution organizations, expected to provide more than 5.2 million meals to communities in the U.S. and Canada. Cleveland-Cliffs has committed $2.5 million over the last three years to combat food insecurity, reflecting its social responsibility efforts. As a leading steel producer and a significant employer in North America, the company emphasizes its role in addressing community needs.

Cleveland-Cliffs Inc. (NYSE: CLF) has announced an increase in spot market base prices for carbon hot rolled, cold rolled, and coated steel products by a minimum of $100 per net ton, effective immediately for all new orders. The new minimum base price for hot rolled steel is now set at $1,200 per net ton. As the largest flat-rolled steel producer in North America, Cleveland-Cliffs integrates operations from raw materials to finished steel products, catering primarily to the automotive industry and other diverse markets.

Cleveland-Cliffs Inc. (NYSE: CLF) announced positive progress following the U.S. International Trade Commission’s unanimous ruling on antidumping and countervailing duty petitions related to tin mill products. The preliminary determination supports Cleveland-Cliffs’ efforts against import surges from countries including Canada, China, and others. Notably, dumping margins are reported at 79.59% for Canada and up to 122.52% for China. The U.S. imported over 1.42 million short tons of these products in 2022, marking a 37.7% increase since 2019. Cleveland-Cliffs, a major steel producer, is optimistic about the impact of this ruling on the market.

Cleveland-Cliffs Inc. (NYSE: CLF) has announced a price increase of at least $60 per net ton for its steel plate products, effective immediately for all new, non-contract orders. This includes as-rolled, normalized, and quench and tempered steel plates. The company also reserves the right to re-quote any open offers not confirmed by an order acknowledgment. Cleveland-Cliffs is a leading flat-rolled steel producer and iron ore pellet manufacturer in North America, known for supplying the automotive industry and other diverse markets.

Cleveland-Cliffs Inc. (NYSE: CLF) has announced a significant increase in spot market base prices for carbon hot rolled, cold rolled, and coated steel products by at least $100 per net ton. This price adjustment is effective immediately for all new orders, setting the minimum base price for hot rolled steel at $1,100 per net ton. As North America's largest flat-rolled steel producer and iron ore pellet manufacturer, Cleveland-Cliffs serves diverse markets, including a dominant position in the automotive industry.

Cleveland-Cliffs Inc. (NYSE: CLF) has announced an increase in spot market base prices for carbon hot rolled, cold rolled, and coated steel products by a minimum of $100 per net ton. This price hike is effective immediately for all new orders, raising the minimum base price for hot rolled steel to $1,000 per net ton. As the largest flat-rolled steel producer in North America, Cleveland-Cliffs serves a diverse range of markets, including the automotive industry. The company is vertically integrated and employs approximately 27,000 people across operations in the U.S. and Canada.

Cleveland-Cliffs Inc. (NYSE: CLF) reported record full-year revenues of $23.0 billion for 2022, up from $20.4 billion in 2021. However, net income fell to $1.4 billion ($2.55 per diluted share) from $3.0 billion ($5.36 per diluted share) in the previous year. Adjusted EBITDA dropped to $3.2 billion compared to $5.3 billion. The fourth quarter saw a revenue decline to $5.0 billion, resulting in a net loss of $204 million ($0.41 per diluted share). Significant operational changes led to debt reductions exceeding $3 billion and improved automotive contracts. For 2023, the company anticipates a $115 per-ton increase in automotive prices and reduced steelmaking costs.

Cleveland-Cliffs Inc. (NYSE: CLF) has announced an increase in spot market base prices for carbon hot rolled, cold rolled, and coated steel products by a minimum of $50 per net ton, effective immediately for all new orders. The new minimum base price for hot rolled steel is set at $900 per net ton. Cleveland-Cliffs is North America's largest flat-rolled steel producer and has a significant presence in the iron ore pellet manufacturing sector. The company also serves the automotive industry and operates multiple facilities across the U.S. and Canada.

Cleveland-Cliffs Inc. (NYSE: CLF) has announced an immediate increase in its spot market base prices for all carbon hot rolled, cold rolled, and coated steel products by at least $50 per net ton. The new minimum base price for hot rolled steel is now $850 per net ton. This adjustment reflects the company's position as the largest flat-rolled steel producer in North America and highlights its comprehensive offerings across various markets, including significant supply to the automotive industry. The price increase comes at a time when market dynamics are shifting, influencing production and pricing strategies.