Cleveland-Cliffs Inc. is an integrated mining and flat-rolled steel producer. It is engaged in manufacturing iron ore pellets. It is vertically integrated from mined raw materials, direct reduced iron and ferrous scrap to primary steelmaking and downstream finishing, stamping, tooling, and tubing. It offers advanced high-strength steels (AHSS), hot-dipped galvanized, aluminized, galvalume, electrogalvanized, galvanneal, hot-rolled coil (HRC), cold-rolled coil, plate, tinplate, grain oriented electrical steel (GOES), non-oriented electrical steel (NOES), stainless steels, tool and die, stamped components, rail, slab and cast ingot. It provides steel solutions, such as operations of tooling and stamping, which provides advanced-engineered solutions, tool design and build, hot and cold-stamped components, and complex assemblies for the automotive market. It serves various markets, such as automotive, infrastructure and manufacturing, steel producers, and distributors and converters.
U.S. stock indexes were mixed in choppy trading on Friday as investors digested hot inflation data that spurred a sharp selloff in the previous session on fears about aggressive interest rate hikes by the Federal Reserve.
U.S. stock futures pointed to a fresh round of selling on Friday, sparked by growing expectations for quicker interest rate hikes from the Federal Reserve following data that showed soaring inflation.
Wall Street's main indexes were mixed on Wednesday ahead of minutes from the Federal Reserve's December meeting, as investors swapped technology stocks for cyclicals that stand to benefit from a high interest rate environment.
Wall Street stocks edged higher on Monday, as investors cheered the passage of a U.S. infrastructure spending bill, but gains were limited by falling Tesla shares.
Cleveland-Cliffs has no plans to replace any of its coal-fueled blast furnace operations with electric-arc furnaces as the U.S. and EU negotiate a new trade agreement aimed at lowering carbon emissions from steel production, CEO Lourenco Goncalves said on Tuesday.
Source: Refinitiv, an LSEG business - data delayed by at least 15 minutes
Source: Refinitiv, an LSEG business - data delayed by at least 15 minutes
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