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. reports developments in its North American flat-rolled steel and iron ore pellet business, including earnings releases, steel shipment trends and product mix across hot-rolled, coated, cold-rolled, plate, stainless and electrical steel. Company updates also address automotive customer demand, trade-enforcement conditions, cost controls, debt maturity actions and capital spending within its vertically integrated steelmaking footprint.
Recurring news also covers technology and governance developments, including enterprise AI deployment for production planning, order entry and operational workflows, board appointments and committee leadership changes. Strategic and commercial updates are framed around Cliffs’ role as a steel supplier to the North American automotive industry and its integrated chain from mined raw materials, direct reduced iron and scrap through finishing, stamping, tooling and tubing.
Cleveland-Cliffs Inc. (NYSE: CLF) plans to offer $750 million in senior unsecured guaranteed notes due 2030, exempt from Securities Act registration requirements. The proceeds will be utilized to repay part of its existing asset-based revolving credit facility. The notes will be guaranteed by the company's significant domestic subsidiaries, excluding certain ones. This offering is limited to qualified institutional buyers.
Cleveland-Cliffs is the leading flat-rolled steel producer and iron ore pellet manufacturer in North America, operating since 1847 and employing around 27,000 people across the U.S. and Canada. The company is vertically integrated and serves various markets, including the automotive industry.
Cleveland-Cliffs Inc. (NYSE: CLF) has released its preliminary financial results for Q1 2023, reporting steel shipments of 4.1 million net tons and revenues of approximately $5.2 billion. Adjusted EBITDA is expected to be around $200 million, significantly higher than Q4 2022. CEO Lourenco Goncalves attributed this increase in profitability to unit cost reductions and the effect of price hikes for contracts with automotive and non-auto clients. The company anticipates that Q2 EBITDA will exceed Q1 by a multiple. Full earnings results will be disclosed on April 24, 2023, with a conference call on April 25, 2023, at 10:00 am ET.
Cleveland-Cliffs Inc. (NYSE: CLF) will announce its first-quarter 2023 earnings results after the U.S. market close on Monday, April 24, 2023. A conference call for investors and analysts will be held on Tuesday, April 25, 2023, at 10:00 am ET, available for live broadcast and replay on the company's website. Cleveland-Cliffs is the largest flat-rolled steel producer and manufacturer of iron ore pellets in North America, employing approximately 27,000 people. The company serves various markets, including a significant share in the automotive sector.
Cleveland-Cliffs Inc. (NYSE: CLF) has announced a price increase for its 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 base price for hot rolled steel is now $1,300 per net ton. This adjustment reflects the company's strategy to enhance market pricing in response to demand dynamics. Cleveland-Cliffs is North America's largest flat-rolled steel producer and iron ore pellet manufacturer, serving various industries, including automotive, with a workforce of approximately 27,000 employees.
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Cleveland-Cliffs Inc. (NYSE: CLF) has been honored as a 2022 GM Supplier of the Year for the sixth consecutive year at GM's annual awards ceremony in San Antonio, Texas. This accolade recognizes suppliers for exceeding GM’s standards in areas such as quality, innovation, and supply chain management, reinforcing Cleveland-Cliffs' commitment to the automotive industry as North America's leading automotive steel supplier. Chairman, President, and CEO Lourenco Goncalves highlighted the company’s dedication to product quality and customer service, ensuring uninterrupted supply chain operations.
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.