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Cleveland-Cliffs Inc. - CLF STOCK NEWS

Welcome to our dedicated page for Cleveland-Cliffs news (Ticker: CLF), a resource for investors and traders seeking the latest updates and insights on Cleveland-Cliffs stock.

Cleveland-Cliffs Inc. (symbol: CLF) is a leading flat-rolled steel producer and manufacturer of iron ore pellets in North America. The company is strategically organized into four operating segments: Steelmaking, Tubular, Tooling and Stamping, and European Operations, but operates primarily through its Steelmaking segment. This organization allows Cleveland-Cliffs to offer a wide range of products and services, meeting the diverse needs of customers in various industries.

Core Business and Operations: Cleveland-Cliffs is vertically integrated, covering the entire steel production process from mining raw materials to producing finished steel products. This includes mined raw materials, direct reduced iron, and ferrous scrap, which are essential for primary steelmaking. Further, the company adds value through downstream finishing, stamping, tooling, and tubing operations.

Key Markets and Geographical Reach: Cleveland-Cliffs serves a wide range of markets with its comprehensive offerings in flat-rolled steel products. Its geographic operations span the United States, Canada, and other countries, with the majority of its revenue generated from the United States. The company is a significant supplier of steel to the automotive industry in North America, underscoring its importance in key industrial sectors.

Financial Condition and Achievements: Cleveland-Cliffs has demonstrated robust financial health and growth through strategic acquisitions and partnerships. The company's financial stability allows it to invest in innovative projects and maintain its competitive edge in the steel and mining industry.

Recent Projects and Developments: The company has continuously expanded its capabilities and market reach through recent projects aimed at enhancing production efficiency and product quality. Cleveland-Cliffs remains at the forefront of sustainable steel production, guided by a commitment to safety and environmental stewardship.

In conclusion, Cleveland-Cliffs Inc. is a pivotal player in the North American steel industry, with a comprehensive, vertically integrated operation that spans from raw material extraction to finished steel products, serving critical markets such as automotive, construction, and more.

News

Cleveland-Cliffs to Host United States Secretary of Energy Jennifer Granholm at its Butler Works

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Cleveland-Cliffs Inc. (NYSE: CLF) is hosting Secretary Jennifer Granholm at its Butler Works plant in Pennsylvania following the DOE's transformer efficiency standard rule. Cleveland-Cliffs, the sole producer of GOES in the U.S., is in negotiations for up to $75 million in funding for a decarbonization investment. The visit includes a plant tour, meetings with company officials, employees, and union leaders, and a live streamed speaking program with Secretary Granholm discussing potential investments and job protection.
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Cleveland-Cliffs Applauds DOE’s Final Transformer Efficiency Standard Rule

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Cleveland-Cliffs Inc. (CLF) praises the Department of Energy's final transformer efficiency standard rule, ensuring the use of Grain-Oriented Electrical Steel in their markets. The revised rule recognizes the significance of GOES and Cleveland-Cliffs' steel plants in supporting the U.S. electric grid. Collaboration with the UAW led to changes in the rule, securing Cliffs' ability to produce efficient GOES in the U.S. This development is expected to boost demand for GOES, potentially leading to plant expansions and job opportunities.
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Cleveland-Cliffs Issues Sustainability Report for 2023

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Cleveland-Cliffs Inc. (NYSE: CLF) unveils its Sustainability Report 2023, highlighting its commitment to environmental and social responsibility.
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Cleveland-Cliffs to Announce First-Quarter 2024 Earnings Results on April 22 and Host Conference Call on April 23

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Cleveland-Cliffs Inc. (NYSE: CLF) will release its Q1 2024 earnings on April 22, 2024, followed by a conference call on April 23, 2024, at 8:30 am ET. Interested parties can access the call on www.clevelandcliffs.com.
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Cleveland-Cliffs Announces Price Increase for Hot Rolled, Cold Rolled and Coated Steel Products

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Cleveland-Cliffs Inc. (NYSE: CLF) raises spot market base prices by $60 per net ton for carbon steel products, setting minimum base price at $900 per net ton.
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Cleveland-Cliffs Selected to Receive $575 Million in US Department of Energy Investments for Two Projects to Accelerate Industrial Decarbonization Technologies

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Cleveland-Cliffs Inc. (CLF) secures up to $575 million in federal funding from the Department of Energy for decarbonization projects at Middletown Works and Butler Works. The investments aim to reduce greenhouse gas emissions, drive down operating costs, and create new jobs. The Middletown project involves a Hydrogen-Ready DRI Plant and Electric Melting Furnaces, while the Butler Works project focuses on Electrified Induction Slab Reheat Furnaces. These initiatives are expected to enhance efficiency, lower carbon emissions, and improve production quality, positioning Cliffs as a leader in steel decarbonization.
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Cleveland-Cliffs Announces Final Results of Tender Offer

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Cleveland-Cliffs Inc. (CLF) successfully completed a Tender Offer for its 6.750% Senior Secured Notes due 2026, purchasing $639,737,000 in principal amount of the Notes. The company issued a notice of redemption for the remaining Notes at a price of 101.688% of the principal amount. Wells Fargo Securities, and Global Bondholder Services facilitated the Tender Offer.
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Cleveland-Cliffs Announces Price Increase for Hot Rolled, Cold Rolled and Coated Steel Products

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Cleveland-Cliffs Inc. (CLF) raises spot market base prices for carbon steel products, setting minimum price at $840 per net ton.
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Cleveland-Cliffs Announces Upsizing and Pricing of $825 Million of Senior Unsecured Guaranteed Notes due 2032

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Cleveland-Cliffs Inc. (NYSE: CLF) has priced $825 million senior unsecured guaranteed notes due 2032 in an exempt offering. The Notes bear 7.000% interest and will be used to repurchase existing Secured Notes. The offering is expected to close on March 18, 2024.
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Cleveland-Cliffs Announces Tender Offer for Any and All of its 6.750% Senior Secured Notes due 2026

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Cleveland-Cliffs Inc. (NYSE: CLF) has initiated a tender offer to purchase its outstanding 6.750% Senior Secured Notes due 2026. The Tender Offer is set to expire on March 13, 2024, with a Tender Offer Consideration of $1,018.00 per $1,000 principal amount of Notes. Holders who participate may receive the Tender Offer Consideration along with accrued and unpaid interest. The Settlement Date is expected to be on March 18, 2024. The Company's obligation to purchase the Notes is not subject to a minimum tender condition but is subject to certain conditions, including a Financing Condition. The Tender Offer may be amended, extended, terminated, or withdrawn. Additionally, the Company intends to issue a conditional notice to redeem the outstanding Notes at a redemption price of 101.688% of the principal amount, subject to the Financing Condition.
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FAQ

What is the current stock price of Cleveland-Cliffs (CLF)?

The current stock price of Cleveland-Cliffs (CLF) is $12.46 as of November 22, 2024.

What is the market cap of Cleveland-Cliffs (CLF)?

The market cap of Cleveland-Cliffs (CLF) is approximately 6.1B.

What does Cleveland-Cliffs Inc. do?

Cleveland-Cliffs Inc. is a leading flat-rolled steel producer and manufacturer of iron ore pellets in North America.

What are the main operating segments of Cleveland-Cliffs Inc.?

The main operating segments are Steelmaking, Tubular, Tooling and Stamping, and European Operations.

Where does Cleveland-Cliffs generate most of its revenue?

The majority of Cleveland-Cliffs' revenue is generated from the United States.

Which industries does Cleveland-Cliffs serve?

Cleveland-Cliffs serves several industries, including automotive, construction, pipe and tube, appliance, container, and machinery.

Is Cleveland-Cliffs involved in sustainable steel production?

Yes, Cleveland-Cliffs is committed to producing safe and sustainable steel, guided by environmental stewardship.

What makes Cleveland-Cliffs vertically integrated?

Cleveland-Cliffs' operations cover the entire steel production process, from mining raw materials to producing finished steel products.

Does Cleveland-Cliffs have a significant presence outside the United States?

Yes, Cleveland-Cliffs operates in Canada and other countries, although its primary revenue comes from the U.S.

How does Cleveland-Cliffs support the automotive industry?

Cleveland-Cliffs is a key supplier of steel to the automotive industry in North America, providing high-quality flat-rolled steel products.

What recent projects has Cleveland-Cliffs undertaken?

Cleveland-Cliffs has undertaken projects aimed at enhancing production efficiency and product quality to expand its capabilities and market reach.

How does Cleveland-Cliffs ensure financial stability?

Cleveland-Cliffs ensures financial stability through strategic acquisitions, partnerships, and a focus on innovation and operational efficiency.

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Cleveland-Cliffs Inc.

NYSE:CLF

CLF Rankings

#1164 Ranked by Market Cap
N/A Ranked by Dividends

CLF Stock Data

6.15B
485.34M
1.6%
70.93%
8.86%
Steel
Metal Mining
Link
United States of America
CLEVELAND