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Cleveland-Cliffs Inc - CLF STOCK NEWS

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

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Cleveland-Cliffs's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Cleveland-Cliffs's position in the market.

Rhea-AI Summary
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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.6%
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none
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Rhea-AI Summary
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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.85%
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none
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Rhea-AI Summary
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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.57%
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none
Rhea-AI Summary
Cleveland-Cliffs Inc. (CLF) raises spot market base prices for carbon steel products, setting minimum price at $840 per net ton.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.29%
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none
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Rhea-AI Summary
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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3.13%
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none
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Rhea-AI Summary
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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3.13%
Tags
none
Rhea-AI Summary
Cleveland-Cliffs Inc. (NYSE: CLF) plans to offer $750 million of senior unsecured guaranteed notes due 2032 to repurchase its outstanding 6.750% Senior Secured Notes due 2026. The offering is exempt from registration requirements, targeting qualified institutional buyers and non-U.S. persons.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3.13%
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none
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Rhea-AI Summary
The U.S. International Trade Commission issued a negative injury determination in the tin mill products trade case brought by Cleveland-Cliffs and USW, leading to the continuation of unfair trade practices. Lourenco Goncalves highlighted U.S. Steel's lack of cooperation as a key factor in the negative outcome, impacting the domestic industry and workers.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.46%
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none
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Rhea-AI Summary
Cleveland-Cliffs Inc. (NYSE: CLF) announces the indefinite idling of its tinplate production plant in Weirton, West Virginia due to the ITC's rejection of anti-dumping duties. Approximately 900 employees impacted with relocation opportunities or severance packages. Despite evidence of dumping and subsidization, the ITC's decision has led to this outcome. Cliffs maintains its 2024 sales volume guidance of 16.5 million tons.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.3%
Tags
none
Rhea-AI Summary
Cleveland-Cliffs Inc. (NYSE: CLF) reported full-year and fourth-quarter results for the period ended December 31, 2023. The company achieved revenues of $22.0 billion, record steel shipments of 16.4 million net tons, cash flow from operations of $2.3 billion, and free cash flow of $1.6 billion. The year-end net debt was $2.9 billion, and net pension and OPEB liabilities were reduced to $586 million. However, full-year 2023 consolidated revenues decreased compared to 2022, with a goodwill impairment charge totaling $125 million. Adjusted EBITDA was $1.9 billion, down from $3.2 billion in 2022. The fourth quarter of 2023 saw a net loss of $139 million, with adjusted net loss of $25 million. The company recorded cash flows from operations of $652 million and reduced net debt by approximately $500 million during the quarter. The outlook for 2024 includes expected steel shipment volumes of 16.5 million net tons and steel unit cost reductions of approximately $30 per net ton.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
6.56%
Tags
earnings
Cleveland-Cliffs Inc

NYSE:CLF

CLF Rankings

CLF Stock Data

11.33B
488.88M
1.76%
68.74%
6.38%
Iron Ore Mining
Mining, Quarrying, and Oil and Gas Extraction
Link
US
Cleveland

About CLF

arcelormittal usa is part of arcelormittal, the world’s leading steel and mining company. guided by a philosophy to produce safe, sustainable steel, we are a leading supplier of quality steel products in major north american markets including automotive, construction, pipe and tube, appliance, container and machinery. arcelormittal usa employs more than 20,000 people at 27 operations across 13 of the united states. we aim to give our employees every chance to flourish in their careers and grow as part of a global company. we offer a wealth of diverse opportunities. whether you work in production in pennsylvania or as a purchaser in indiana, joining arcelormittal is the start of a journey that, we hope, will lead to a rewarding career. we are always looking for the best and brightest minds to help us transform the future of steel.