Cleveland-Cliffs (NYSE:CLF) Stock

Cleveland-Cliffs

Cleveland-Cliffs Inc is a flat-rolled steel producer and manufacturer of iron ore pellets in North America. It is organized into four operating segments based on differentiated products, Steelmaking, Tubular, Tooling and Stamping and European Operations, but operates through one reportable segment -Steelmaking. 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 serves a diverse range of other markets due to its comprehensive offering of flat-rolled steel products. Geographically, it operates in the United States, Canada and other countries. The majority of revenue is from the United States. It is a supplier of steel to the automotive industry in North America.

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Benzinga examined the prospects for many investors’ favorite stocks over the last week — here’s a look at some of our top stories.

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Tariffs on metal imports create opportunities in ETFs focused on U.S. steelmakers. Top picks are VanEck Steel, SPDR S&amp;P Metals &amp; Mining, and Global X U.S. Infrastructure Development ETF.

Trump&#39;s Metal Tariffs Set Stage For US Steel ETF Gains


President Trump&#39;s recent tariff announcement on steel and aluminum imports has sparked a stock market rally among domestic metal producers, including Cleveland-Cliffs (NYSE:CLF), Nucor Corporation (NYSE:NUE) and Alcoa

Will the Tariff Bump Lead to a Steel Trap?

Cleveland-Cliffs Inc

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Shares of metal and mining companies are trading lower amid overall market weakness on US consumer and economic concerns.

Financial giants have made a conspicuous bearish move on Cleveland-Cliffs. Our analysis of options history for Cleveland-Cliffs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>) revealed 9 unusual trades.
Delving into the details, we found 22% of traders were bullish, while 77% showed bearish tendencies. Out of all the trades we spotted, 3 were puts, with a value of $126,540, and 6 were calls, valued at $283,388.
<h3>Expected Price Movements</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $10.0 to $17.5 for Cleveland-Cliffs over the last 3 months. 
<h3>Analyzing Volume &amp; Open Interest</h3>
In terms of liquidity and interest, the mean open interest for Cleveland-Cliffs options trades today is 6807.86 with a total volume of 10,866.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Cleveland-Cliffs's big money trades within a strike price range of $10.0 to $17.5 over the last 30 days.
<h3>Cleveland-Cliffs 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1740078027_0.png" alt="Options Call Chart" />
<h3>Significant Options Trades Detected:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>CLF</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>02/21/25</td>
<td>$0.49</td>
<td>$0.46</td>
<td>$0.46</td>
<td>$11.50</td>
<td>$115.0K</td>
<td>4.5K</td>
<td>402</td>
</tr>
<tr>
<td>CLF</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>02/28/25</td>
<td>$0.18</td>
<td>$0.16</td>
<td>$0.16</td>
<td>$11.00</td>
<td>$48.3K</td>
<td>3.2K</td>
<td>40</td>
</tr>
<tr>
<td>CLF</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>02/21/25</td>
<td>$0.2</td>
<td>$0.13</td>
<td>$0.13</td>
<td>$12.00</td>
<td>$44.1K</td>
<td>23.1K</td>
<td>6.4K</td>
</tr>
<tr>
<td>CLF</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>03/07/25</td>
<td>$5.55</td>
<td>$5.4</td>
<td>$5.5</td>
<td>$17.50</td>
<td>$43.4K</td>
<td>0</td>
<td>92</td>
</tr>
<tr>
<td>CLF</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>02/21/25</td>
<td>$0.3</td>
<td>$0.25</td>
<td>$0.25</td>
<td>$12.00</td>
<td>$39.3K</td>
<td>23.1K</td>
<td>519</td>
</tr>
</tbody>
</table>

<h3>About Cleveland-Cliffs</h3>
Cleveland-Cliffs Inc is a flat-rolled steel producer and manufacturer of iron ore pellets in North America. It is organized into four operating segments based on differentiated products, Steelmaking, Tubular, Tooling and Stamping and European Operations, but operates through one reportable segment -Steelmaking. 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 serves a diverse range of other markets due to its comprehensive offering of flat-rolled steel products. Geographically, it operates in the United States, Canada and other countries. The majority of revenue is from the United States. It is a supplier of steel to the automotive industry in North America.
After a thorough review of the options trading surrounding Cleveland-Cliffs, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
<h3>Present Market Standing of Cleveland-Cliffs</h3>
<ul>
<li>With a volume of 6,357,624, the price of CLF is up 0.3% at $11.88. </li>
<li>RSI indicators hint that the underlying stock may be approaching overbought.</li>
<li>Next earnings are expected to be released in 4 days.</li>
</ul>
<h3>Professional Analyst Ratings for Cleveland-Cliffs</h3>
In the last month, 1 experts released ratings on this stock with an average target price of $11.0.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. <a href="https://www.benzinga.com/premium/ideas/options-moneyline-2/?t=Moop1arja3be22op14&amp;utm_source=benzinga-insights&amp;adType=benzinga-insights&amp;ad=options-activity&amp;campaign=wallstreetadvantage">Click here for access</a>. 
&#x2A; Maintaining their stance, an analyst from Morgan Stanley continues to hold a Equal-Weight rating for Cleveland-Cliffs, targeting a price of $11. 
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Cleveland-Cliffs, <a href="https://www.benzinga.com/pro/">Benzinga Pro</a> gives you real-time options trades alerts.

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Decoding Cleveland-Cliffs's Options Activity: What's the Big Picture?

Benzinga examined the prospects for <a href="http://www.benzinga.com/trading-ideas">many investors&#8217; favorite stocks</a> over the last week — here&#8217;s a look at some of our top stories.
The S&amp;P 500 rose about 1.5% this week, while the Dow gained 0.6% and the Nasdaq climbed 2.6%. Inflation remains a concern, but Wall Street stayed resilient as optimism grew around Ukraine peace talks and President Donald Trump's tariff proposal, which appeared less severe than initially expected. 
January's Consumer Price Index rose 3% year-over-year, exceeding forecasts, with energy and food prices—particularly eggs—driving the increase, while core inflation also came<a href="https://www.benzinga.com/economics/macro-economic-events/25/02/43692996/inflation-fears-mount-as-producer-prices-soar-to-35-put-fed-interest-rate-cut-on-ice"> in hotter than anticipated. </a>
Fed Chair Jerome Powell signaled no urgency to cut interest rates, prompting investors to push back expectations for the first rate cut to December, with some economists even suggesting a <a href="https://www.benzinga.com/news/global/25/02/43748007/inflation-spikes-in-january-wall-street-rallies-on-ukraine-peace-talks-delayed-tariffs-this-week-in-the-markets">hike could be on the table.</a>
Benzinga provides daily reports on the stocks most popular with investors. Here are a few of this past week&#8217;s most bullish and bearish posts that are worth another look.
<h3 class="wp-block-heading">The Bulls</h3>
&#8220;<a href="https://www.benzinga.com/government/regulations/25/02/43592144/us-steel-aluminum-stocks-rally-as-trump-revives-25-tariff-plan">US Steel, Aluminum Stocks Rally As Trump Revives 25% Tariff Plan</a>,&#8221; by&nbsp;<a href="https://www.benzinga.com/author/piero-cingari">Piero Cingari</a>, reports that steel and aluminum stocks surged after Trump announced plans to reintroduce 25% tariffs on imported metals. Shares of Alcoa Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AA#NYSE">AA</a>), Century Aluminum Co. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CENX#NASDAQ">CENX</a>), Cleveland-Cliffs Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>), and United States Steel Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>) jumped.
&#8220;<a href="https://www.benzinga.com/25/02/43700767/netflix-stock-attractive-at-all-time-highs-for-analyst-virtuous-circle-of-strong-subscriber-growth-more-revenue-and-growing-profit">Netflix Stock Attractive At All-Time Highs For Analyst: &#8216;Virtuous Circle Of Strong Subscriber Growth, More Revenue, And Growing Profit&#8217;</a>,&#8221; by&nbsp;<a href="https://www.benzinga.com/author/chris-katje">Chris Katje</a>, highlights a JPMorgan analyst reiterating an Overweight rating on Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) with a $1,150 price target, citing strong subscriber growth, higher engagement, and price hikes expected to boost 2025 revenue by $2 billion in the U.S. and $370 million in the UK.
&#8220;<a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43648469/hold-dogecoin-until-march-24-says-top-crypto-trader-expecting-nice-pumps-but-look-out-for-these-sell-signals">Hold Dogecoin Until March 24, Says Top Crypto Trader Expecting &#8216;Nice Pumps:&#8217; But Look Out For These &#8216;Sell&#8217; Signals</a>,&#8221; by&nbsp;<a href="https://www.benzinga.com/author/aniket-verma">Aniket Verma</a>, reports on a crypto trader forecasting a Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) rally around March 24, citing Fibonacci time zones. Another analyst highlights increased whale activity and daily active addresses as indicators of potential bullish momentum.
For additional bullish calls of the past week, check out the following:
<a href="https://www.benzinga.com/25/02/43676849/dutch-bros-stock-rallies-after-blockbuster-q4-results-details">Dutch Bros Stock Rallies After Blockbuster Q4 Results: Details</a>
<a href="https://www.benzinga.com/news/earnings/25/02/43676556/applovin-stock-soars-on-q4-earnings-revenue-beat-eps-beat-strong-guidance-and-more">Applovin Stock Soars On Q4 Earnings: Revenue Beat, EPS Beat, Strong Guidance And More</a>
<a href="https://www.benzinga.com/analyst-ratings/price-target/25/02/43678005/super-micro-rides-ai-server-boom-analysts-see-big-2026-growth-despite-near-term-challenges">Super Micro Rides AI Server Boom, Analysts See Big 2026 Growth Despite Near-Term Challenges</a>
The Bears
&#8220;<a href="https://www.benzinga.com/news/global/25/02/43600852/china-sets-sights-on-us-tech-companies-as-trade-tensions-rise">China Sets Sights On Apple, Nvidia And Other US Tech Companies As Trade Tensions Rise</a>,&#8221; by&nbsp;<a href="https://www.benzinga.com/author/adam-eckert">Adam Eckert</a>, reports that China is compiling a list of U.S. tech firms to target with potential antitrust probes, aiming to gain leverage in trade negotiations. Companies like Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), and Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) could face scrutiny, escalating tensions between Beijing and Washington.
&#8220;<a href="https://www.benzinga.com/25/02/43660030/trump-tariff-threats-put-pressure-on-taiwan-semiconductor-could-push-advanced-packaging-capacity-to-us">Taiwan Semiconductor Under Pressure From Trump Tariff Threats, Could Push Advanced Packaging Capacity to US</a>,&#8221; by&nbsp;<a href="https://www.benzinga.com/author/anusuya-lahiri-0">Anusuya Lahiri</a>, reports Taiwan Semiconductor Manufacturing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) facing uncertainty as Trump considers semiconductor tariffs and potentially scrapping CHIPS Act subsidies, prompting Taiwan's deputy economy minister to visit Washington amid growing trade tensions.
&#8220;<a href="https://www.benzinga.com/25/02/43651110/starbucks-faces-legal-action-over-alleged-discriminatory-hiring-practices">Racism Has No Place in Missouri&#8217;: State Attorney General Sues Starbucks Over Hiring Policies</a>,&#8221; by&nbsp;<a href="https://www.benzinga.com/author/shivani-kumaresan">Shivani Kumaresan</a>, reports on Missouri Attorney General Andrew Bailey suing Starbucks Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>), alleging that its diversity, equity, and inclusion (DEI) initiatives violate federal and state anti-discrimination laws by tying executive compensation to racial and gender quotas.
For more bearish takes, be sure to see these posts:
<a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/25/02/43667841/inflation-runs-hot-in-january-houston-we-have-a-problem-experts-warn">Inflation Runs Hot In January: &#8216;Houston, We Have A Problem,&#8217; Experts Warn</a>
<a href="https://www.benzinga.com/trading-ideas/movers/25/02/43729865/serve-robotics-tumbles-after-nvidia-exit-shakes-investor-confidence">Serve Robotics Tumbles After Nvidia Exit Shakes Investor Confidence</a>
<a href="https://www.benzinga.com/tech/25/02/43585701/tesla-ceo-elon-musk-vp-of-finance-address-allegations-of-tax-fraud-losses-were-high-for-many-years-so-carry-forward">Tesla CEO Elon Musk, VP Of Finance Address Allegations Of Tax Fraud: &#8216;Losses Were High For Many Years, So Carry Forward&#8217;</a>
Keep up with all the latest breaking news and trading ideas by following<a href="https://twitter.com/Benzinga"> Benzinga</a><a href="http://twitter.com/Benzinga"> on Twitter</a>.
Image created using artificial intelligence via Midjourney.

The latest round of tariffs on metal imports, announced by the Trump administration, is set to create significant investment opportunities in ETFs <a href="https://in.benzinga.com/25/02/43587918/donald-trumps-expected-tariffs-on-aluminum-steel-imports-may-impact-domestic-companies-heres-a-list-of-metal-etfs-that-could-be-affected">focused on U.S. steelmakers. </a>
With a 25% tariff now set to be imposed on all steel and aluminum imports, domestic steel producers are expected to gain market share and see rising profitability. A KeyBanc Capital Markets report shows how these tariffs could reshape the steel market, reducing finished steel imports by 14% year-over-year in 2025, primarily impacting sheet and plate steel. 
Analysts anticipate U.S. steel mills capturing market share previously held by foreign competitors, reinforcing the bullish outlook for U.S. steel companies-focused ETFs.
Three <a href="https://www.benzinga.com/etfs">standout ETFs</a> are VanEck Steel ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLX#NYSE">SLX</a>), SPDR S&amp;P Metals &amp; Mining ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XME#NYSE">XME</a>), and Global X U.S. Infrastructure Development ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/PAVE#BATS">PAVE</a>).
VanEck Steel ETF 
This is a direct play on the steel sector, offering concentrated exposure to leading steel manufacturers. With holdings in Nucor (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUE#NYSE">NUE</a>), Cleveland-Cliffs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>), Steel Dynamics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STLD#NASDAQ">STLD</a>), and United States Steel Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>), the fund is well-positioned to benefit from higher domestic steel prices.
The new tariffs are expected to curb foreign steel imports, which accounted for a substantial share of the U.S. market. This will increase demand for domestically produced steel, boosting revenue for companies within SLX&#8217;s portfolio.
As steel prices rise, profit margins for U.S. steel producers will expand, which might be a boost for stock valuations.
Also Read: <a href="https://in.benzinga.com/markets/equities/25/02/43613133/trumps-25-tarrifs-a-self-inflicted-wound-says-economist-amid-warnings-of-fewer-american-jobs-peter-schiff-says-youll-pay-more-for-cars-and-homes">Trump&#8217;s 25% Tarrifs A &#8216;Self-Inflicted Wound,&#8217; Says Economist Amid Warnings Of Fewer American Jobs — Peter Schiff Says You&#8217;ll Pay More For Cars And Homes</a>
SPDR S&amp;P Metals &amp; Mining ETF
XME provides broader exposure to the metals and mining sector but is still heavily weighted toward steel stocks like Steel Dynamics, Nucor and United States Steel Corp.
The tariff-induced price hikes on imported steel will force industries relying on metal, such as construction, automotive, and energy, to turn to U.S.-based suppliers. Steel Dynamics, Cleveland-Cliffs, and Nucor stand to gain from increased domestic sales, while higher scrap prices further support pricing power.
Global X U.S. Infrastructure Development ETF
PAVE is a more diversified play, offering exposure to the broader infrastructure sector, which is a major consumer of steel. Infrastructure companies like Trane Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TT#NYSE">TT</a>) and Eaton Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ETN#NYSE">ETN</a>) are part of the ETF&#8217;s portfolio.
With increased steel demand for construction projects and infrastructure spending, U.S. steel producers will see long-term growth.
Supply And Demand Shift
KeyBanc projects U.S. real carbon steel demand to grow by around 2% in 2025 (compared to a 1-2% decline in 2024), supported by rebounds in oil &amp; gas, industrial, and construction sectors. Moreover, Hot Rolled Coil (HRC) prices are expected to rise from $750 per ton to $810 per ton in 2025, buoyed by tariff-driven demand shifts and rising scrap prices.
KeyBanc analysts also upgraded Steel Dynamics to Overweight, citing improved operational efficiencies and pricing tailwinds.
The Trump administration's aggressive trade stance is designed to protect U.S. steelmakers from cheap foreign imports. KeyBanc said that analysts anticipate a boost in domestic steel production, with sector utilization rising to 78% in 2025.
Earnings Growth for Steel Stocks
Steel Dynamics: KeyBanc raised the estimated 2025 EBITDA to $2.57 billion from $2.13 billion, driven by higher utilization and rising steel prices.
Cleveland-Cliffs: The research firm raised EBITDA expectation to $1.034 billion amid improved demand for U.S.-made steel.
Nucor: Holding a Sector Weight rating, NUE's diversified steel operations make it a stable long-term play.
Parting Thoughts
The tariffs are set to create a favorable market for domestic steelmakers, and ETFs with significant exposure to U.S. steel stocks stand to gain. With KeyBanc's bullish outlook on steel demand and pricing, the ETFs discussed in this piece could see substantial upside in the months ahead.
Read Next:<a href="https://www.benzinga.com/news/global/25/02/43635740/eu-president-vows-firm-and-proportionate-countermeasures-after-trump-imposes-steel-aluminum-tariffs"> </a>
<ul>
<li><a href="https://www.benzinga.com/news/global/25/02/43635740/eu-president-vows-firm-and-proportionate-countermeasures-after-trump-imposes-steel-aluminum-tariffs">EU President Vows &#8216;Firm And Proportionate Countermeasures&#8217; After Trump Imposes Steel, Aluminum Tariffs</a></li>
</ul>
Photo: Vladimir Mulder/Shutterstock.com

Trump's Metal Tariffs Set Stage For US Steel ETF Gains

Allianz Chief Economic Advisor Mohamed El-Erian warned that while President Donald Trump&#8216;s evolving tariff strategy may deliver immediate gains, it risks longer-term economic damage through stagflation and eroded U.S. global influence.
What Happened: El-Erian explained on X that the Trump administration&#8217;s tariff strategy follows a three-pronged approach, as highlighted in a Bloomberg Opinion <a href="https://www.bloomberg.com/opinion/articles/2025-02-11/trump-s-early-tariff-wins-mask-future-risks">piece</a> Tuesday: broad duties for revenue and trade balance, targeted protection for industries like steel and aluminum, and strategic tariff threats for political leverage.
&#8220;America&#8217;s many structural advantages and its bigger and cyclically stronger economy give it the upper hand in most negotiations,&#8221; El-Erian wrote, citing recent success in trade disputes with Colombia. However, he cautioned that &#8220;uncertainty is a feature rather than a bug&#8221; in the current approach.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Posted earlier today: Some thoughts on the evolution of US tariff policy:<a href="https://t.co/pQ3wJWLaBU">https://t.co/pQ3wJWLaBU</a><a href="https://twitter.com/opinion?ref_src=twsrc%5Etfw">@opinion</a> <a href="https://twitter.com/hashtag/markets?src=hash&amp;ref_src=twsrc%5Etfw">#markets</a> <a href="https://twitter.com/hashtag/trade?src=hash&amp;ref_src=twsrc%5Etfw">#trade</a> <a href="https://twitter.com/hashtag/tariffs?src=hash&amp;ref_src=twsrc%5Etfw">#tariffs</a> <a href="https://twitter.com/hashtag/economy?src=hash&amp;ref_src=twsrc%5Etfw">#economy</a> <a href="https://t.co/Ovnr5WVSYD">pic.twitter.com/Ovnr5WVSYD</a>
&mdash; Mohamed A. El-Erian (@elerianm) <a href="https://twitter.com/elerianm/status/1889340333189746843?ref_src=twsrc%5Etfw">February 11, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The warning comes as Trump pledged to <a href="https://in.benzinga.com/markets/equities/25/02/43613133/trumps-25-tarrifs-a-self-inflicted-wound-says-economist-amid-warnings-of-fewer-american-jobs-peter-schiff-says-youll-pay-more-for-cars-and-homes">impose 25% tariffs</a> on metal imports without exemptions, sending U.S. steel stocks like Cleveland-Cliffs Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>) and Nucor Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUE#NYSE">NUE</a>) soaring on Monday.
See Also: <a href="https://www.benzinga.com/markets/equities/25/02/43646506/dan-ives-says-palantir-could-be-next-oracle-or-salesforce-as-ai-boom-drives-massive-software-spending-highlights-8-10x-multiplier-effect">Dan Ives Says Palantir Could Be Next Oracle Or Salesforce As AI Boom Drives Massive Software Spending, Highlights 8-10x Multiplier Effect</a>
Why It Matters: Former Treasury Secretary Larry Summers echoed these concerns, <a href="https://in.benzinga.com/markets/equities/25/02/43613133/trumps-25-tarrifs-a-self-inflicted-wound-says-economist-amid-warnings-of-fewer-american-jobs-peter-schiff-says-youll-pay-more-for-cars-and-homes">stating on social media </a>that the proposed tariffs would lead to &#8220;fewer American jobs, more American inflation, and probably a bigger trade deficit.&#8221;
El-Erian highlighted particular risks for low-income consumers and companies still recovering from post-pandemic inflation. He argued that frequent use of tariffs could make America &#8220;a less reliable partner,&#8221; potentially reducing bilateral trade interactions.
&#8220;Trade is an intrinsically cooperative game,&#8221; El-Erian noted. &#8220;Playing it uncooperatively can benefit the more powerful party in the short term&#8230; But the longer that international trade is played as an uncooperative game, the bigger the welfare losses to everyone participating, including the U.S.&#8221;
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/25/02/43646173/bitcoin-ethereum-dogecoin-dip-even-as-fed-chair-powell-says-no-to-cbdcs-analyst-says-btc-under-consolidation-but-next-big-move-could-be-likely">Bitcoin, Ethereum, Dogecoin Dip Even As Fed Chair Powell Says No To CBDC: Analyst Says BTC Under Consolidation But &#8216;Next Big Move&#8217; Likely</a></li>
</ul>
Image Via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

News

Economics

Mohamed El-Erian Says Trump's 'Uncooperative' Tariff Play Can Benefit America, But Could Lead To 'Welfare Losses' In Long-Term

While <a href="https://www.benzinga.com/topic/tariffs">tariff chatter dominates</a> headlines, JPMorgan analyst Bill Peterson sees bigger implications for steel stocks beyond the political drama. 
His latest analysis highlights key players poised to benefit from higher pricing and shifting trade flows, setting up significant upside potential.
<h2 class="wp-block-heading">The Winners: Nucor, US Steel And Steel Dynamics</h2>
Nucor Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUE#NYSE">NUE</a>) remains Peterson's top pick, rated Overweight. Its product diversification gives it a structural advantage, helping to weather market volatility even as rate and trade policy uncertainty clouds the steel outlook.
The company is prioritizing profitability over volume, a strategy Peterson believes warrants a multiple expansion for both Nucor and the broader sector.
U.S. Steel Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>) also holds an Overweight rating. The key catalyst? Peterson views the stalled NSC deal as unlikely to go through, leaving U.S. Steel to stand alone with strong valuation support.
Easing capex requirements and a likely free cash flow inflection in 2025 could pave the way for share buybacks, while new growth projects add further upside.
Read Also: <a href="https://www.benzinga.com/25/02/43606220/united-states-steel-shares-are-up-today-whats-going-on">United States Steel Shares Are Up Today: What&#8217;s Going On?</a>
Steel Dynamics Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STLD#NASDAQ">STLD</a>) lands a Neutral rating. The company's aluminum rolling mill (ADI) project could create long-term value, but Peterson sees a longer runway to meaningful impact.
Near-term, risks include potential pricing pressure on its Steel Fabrication segment and UBC spreads affecting ADI margins.
<h2 class="wp-block-heading">How Tariffs Fit In</h2>
The latest round of Section 232 tariffs—signed into action Monday evening—has already fueled a rally in steel stocks. While the broader market saw modest gains, steel stocks jumped 5% to 17% in anticipation of higher pricing. The HRC forward curve is already up ~10% since pre-election levels, and industry participants at the Tampa Steel Conference see a potential price range of $850-$900 per ton, with peaks near $1,000 per ton.
The biggest winners in a sustained high-price environment? 
Peterson sees stocks with high spot exposure—particularly U.S. Steel and Cleveland-Cliffs Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>)—benefiting first. However, Nucor remains his long-term favorite, given its earnings stability in both strong and weak pricing environments.
<h2 class="wp-block-heading">Looking Ahead</h2>
The near-term setup is clear: higher steel prices, a favorable demand-supply dynamic, and strategic positioning give steel stocks room to run.
But the longer-term picture is less certain, with potential shifts in exemptions and demand-side risks looming. For now, though, Peterson's bullish stance suggests steel stocks remain well-positioned.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/government/regulations/25/02/43603930/tech-stocks-surge-steelmakers-jump-on-trumps-25-tariffs-copper-hits-9-month-highs-whats-driving-markets-monday">Tech Stocks Surge, Steelmakers Jump On Trump&#8217;s 25% Tariffs, Copper Hits 9-Month Highs: What&#8217;s Driving Markets Monday?</a></li>
</ul>
Photo: Vladimir Mulder/Shutterstock.com.

Analyst Color

Commodities

Analyst Ratings

Tariffs Drive Steel Stock Gains As Analyst Highlights Catalysts For Nucor, US Steel

Frank Lavin, the former U.S. envoy to Singapore, cautioned that the tariffs imposed by President Donald Trump are &#8220;Punitive&#8221; and could result in job losses in the U.S.
What Happened: Lavin, in his conversation on <a href="https://www.cnbc.com/2025/02/11/trump-tariffs-are-punitive-former-us-ambassador-to-singapore-says-warns-of-us-job-losses.html">CNBC&#8217;s</a> &#8220;Street Signs Asia,&#8221; highlighted that the tariffs are not just symbolic but will &#8220;cost jobs&#8221; in the U.S. He further pointed out that the auto industry could face significant negative impacts.
"We're in for a bit of bad news in the near term."
Moreover, as Trump pledges a &#8220;reciprocal&#8221; approach to tariffs, Lavin stated that global trade will decline, making it challenging for other nations to respond effectively. Lavin also expressed concerns that the tariffs could create inefficiencies in the economy and drive up inflation, which might prompt the U.S. Federal Reserve to delay rate cuts.
SEE ALSO: <a href="https://www.benzinga.com/25/02/43606220/united-states-steel-shares-are-up-today-whats-going-on">United States Steel Shares Are Up Today: What&#8217;s Going On?</a>
Why It Matters: President Trump&#8217;s push for tariffs has already <a href="https://www.benzinga.com/25/02/43575460/4-tariff-proof-sectors-to-buy-for-2025">started impacting the financial markets</a>. Mirroring Lavin&#8217;s opinion, Former Treasury Secretary Larry Summers warned that the proposed tariffs would lead to "fewer American jobs, more American inflation, and probably a bigger trade deficit," questioning potential national security benefits from tariffing allies.
Additionally, the Economic Policy Institute stated U.S. exporters will not only lose international markets, but the decline in exports will lead to a surge in the domestic supply of their goods, driving prices down and ultimately lowering corporate profits.
Meanwhile, Wharton finance professor Jeremy Siegel, in a podcast, forecasted that the stock market&#8217;s response would be entirely contingent on the duration of the tariffs. "As long as these tariffs are in effect and are not lowered, it's very hard to see the stock market going up,&#8221; stated Siegel.
Yesterday, the shares of U.S. automakers like General Motors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) and Lucid Motors (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>) lost close to 2% amid concerns over a rise in production costs due to the tariffs on metal imports. However, the announcement had a positive impact on the U.S. steelmakers. Cleveland-Cliffs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>) surged over 17%, while Nucor (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUE#NYSE">NUE</a>) climbed 5.5% at the market close yesterday.
<ul>
<li>READ MORE: <a href="https://www.benzinga.com/government/regulations/25/02/43596413/corporate-americas-best-earnings-in-3-years-will-tariffs-end-wall-streets-honeymoon">Corporate America&#8217;s Best Earnings In 3 Years: Will Tariffs End Wall Street&#8217;s Honeymoon?</a></li>
</ul>
Image via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

LCID

Trump's 'Punitive' Tariffs Could Lead To US Job Losses, Warns Former Envoy: 'We're In For A Bit Of Bad News In The Near Term'

Editor's Note: A typographical error in the headline of this story has been corrected.
Leading economists criticized former President Donald Trump&#8216;s plan to reimpose 25% tariffs on metal imports, while U.S. steel stocks rallied sharply during Monday&#8217;s trading session amid expectations of <a href="https://www.benzinga.com/markets/equities/25/02/43583123/trump-to-announce-25-steel-and-aluminum-tariffs-economist-warns-president-is-making-us-manufacturing-globally-uncompetitive">reduced foreign competition</a>.
What Happened: Former Treasury Secretary Larry Summers warned the proposed tariffs would lead to &#8220;fewer American jobs, more American inflation, and probably a bigger trade deficit,&#8221; questioning potential national security benefits from tariffing allies. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I&#39;m sorry that Trump&#39;s threatened steel and aluminum tariffs have now been implemented. This will mean fewer American jobs, more American inflation and because of damage to us exports probably a bigger trade deficit. I do not see any national security gain from tariffing Canada.
&mdash; Lawrence H. Summers (@LHSummers) <a href="https://twitter.com/LHSummers/status/1889114367645344099?ref_src=twsrc%5Etfw">February 11, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Jason Furman, former Chair of the Council of Economic Advisers under former President Barack Obama, called the policy a &#8220;self-inflicted wound&#8221; that would raise input costs for American manufacturers.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Public policy shouldn't aim to help manufacturing. But nor should it aim to hurt manufacturing. And that is exactly what steel and aluminum tariffs do, raising input costs for American manufacturers. Not to mention raising borrowing costs &amp; the dollar. A self inflicted wound.
&mdash; Jason Furman (@jasonfurman) <a href="https://twitter.com/jasonfurman/status/1889115505044177308?ref_src=twsrc%5Etfw">February 11, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Steel stocks <a href="https://www.benzinga.com/government/regulations/25/02/43592144/us-steel-aluminum-stocks-rally-as-trump-revives-25-tariff-plan">responded positively to the announcement</a>, with Cleveland-Cliffs Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>) surging 23%, while Nucor Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUE#NYSE">NUE</a>) and Steel Dynamics Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STLD#NYSE">STLD</a>) gained 6.52% and 5.75% respectively. United States Steel Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>) advanced 6.63%, and Century Aluminum Co. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CENX#NASDAQ">CENX</a>) rose 14.1%.
The tariffs announced by Trump would apply to all countries without exemptions. The policy mirrors his 2018 measures that imposed 25% duties on steel and 10% on aluminum imports, citing <a href="https://www.benzinga.com/markets/equities/25/02/43583123/trump-to-announce-25-steel-and-aluminum-tariffs-economist-warns-president-is-making-us-manufacturing-globally-uncompetitive">national security concerns</a>.
Market analyst Peter Schiff cautioned about broader economic implications: &#8220;Everything that American companies manufacture or build that requires steel or aluminum, such as cars, aircraft, appliances, and houses will cost more.&#8221; 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Trump imposed 25% tariffs on steel and aluminum imports. That means not only will steel and aluminum cost Americans 25% more, but everything that American companies manufacture or build that requires steel or aluminum, such as cars, aircraft, appliances, &amp; houses will cost more.
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1889094246545736007?ref_src=twsrc%5Etfw">February 10, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/25/02/43605813/oil-prices-energy-stocks-jump-as-gaza-ceasefire-risks-collapse-on-rising-hamas-israel-tensions">Oil Prices, Energy Stocks Jump As Gaza Ceasefire Risks Collapse On Rising Hamas-Israel Tensions</a>
Why It Matters: Benn Steil, director of international economics at the Council on Foreign Relations, noted <a href="https://www.benzinga.com/markets/equities/25/02/43583123/trump-to-announce-25-steel-and-aluminum-tariffs-economist-warns-president-is-making-us-manufacturing-globally-uncompetitive">the disproportionate impact</a> on Sunday, citing that &#8220;Steel-using firms employ over 5 million Americans&#8230; Steel-intensive industries account for over 20% of U.S. manufacturing output.&#8221;
The impact could be particularly significant for U.S.-Canada trade relations. According to U.S. Census Bureau data, Canada exported $11.2 billion in steel and $9.5 billion in aluminum to the U.S. in 2024. Canadian Innovation Minister Francois-Philippe Champagne emphasized the critical role of Canadian metals in <a href="https://in.benzinga.com/government/regulations/25/02/43592144/us-steel-aluminum-stocks-rally-as-trump-revives-25-tariff-plan">U.S. defense and manufacturing sectors</a>.
The automotive industry, which employs 7 million Americans, could face significant challenges from higher material costs. European steelmakers, including German manufacturer Salzgitter, warned the tariffs could redirect excess global supply toward their markets, potentially destabilizing <a href="https://in.benzinga.com/government/regulations/25/02/43592144/us-steel-aluminum-stocks-rally-as-trump-revives-25-tariff-plan">international trade dynamics</a>.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/economics/macro-economic-events/25/02/43608052/traders-rethink-interest-rate-path-as-inflation-concerns-resume-feds-rate-cutting-cycle-is-over-economist-says">Traders Rethink Interest-Rate Path As Inflation Concerns Resume: &#8216;Fed&#8217;s Rate-Cutting Cycle Is Over,&#8217; Economist Says</a></li>
</ul>
Image Via Shutterstock 
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Equities

Trump's 25% Tariffs A 'Self-Inflicted Wound,' Says Economist Amid Warnings Of Fewer American Jobs — Peter Schiff Says You'll Pay More For Cars And Homes (CORRECTED)

Wall Street bounced back on Monday, recovering from Friday's robust decline fueled by tariff concerns, as investors remained focused on strong earnings from the fourth-quarter reporting season while awaiting further <a href="https://www.benzinga.com/government/regulations/25/02/43596413/corporate-americas-best-earnings-in-3-years-will-tariffs-end-wall-streets-honeymoon">clarity on trade policies.</a>
The Nasdaq 100 jumped 1.3% by midday in New York, poised for its best session in over three weeks, with semiconductor stocks leading the charge. 
Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) gained 3.4%, buoyed by a Wall Street Journal <a href="https://www.wsj.com/articles/new-york-state-bans-deepseek-from-government-devices-de7a9df4">report</a> announcing that New York State banned DeepSeek from government devices, sparking speculation about stricter state regulations on Chinese AI chip products.
Steel and aluminum stocks rallied after President Donald Trump announced plans to impose a 25% tariff on imports of both <a href="https://www.benzinga.com/government/regulations/25/02/43592144/us-steel-aluminum-stocks-rally-as-trump-revives-25-tariff-plan">metals from all countries.</a>
<ul>
<li>United States Steel Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>) rose 4.7%, eyeing its best session in a month.</li>
<li>Steel Dynamics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STLD#NASDAQ">STLD</a>) climbed 5.5%.</li>
<li>Century Aluminum Co. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CENX#NASDAQ">CENX</a>) jumped 10.4%, while Nucor Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUE#NYSE">NUE</a>) gained 6.5%.</li>
<li>Cleveland-Cliffs Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>) soared 17.3%, Alcoa Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AA#NYSE">AA</a>) rose 3.6%, and Kaiser Aluminum Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KALU#NASDAQ">KALU</a>) added 2.9%.</li>
</ul>
Commodities rallied, with metals and energy producers outperforming. Gold extended record highs with a 1.5% gain, but copper stole the spotlight, surging 2.6% to its highest level since May 2024, marking its sixth consecutive daily gain. Oil prices also rebounded, rising over 1%.
Crypto sentiment improved slightly, with Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) gaining 1% to $97,500 after a period of subdued price action.
<h3 class="wp-block-heading">Monday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices </td>
<td>Price</td>
<td>1-day %change</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>21,778.76</td>
<td>1.3%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>6,069.92</td>
<td>0.7%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,291.54</td>
<td>0.5%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>44,437.68</td>
<td>0.3%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 1:00 p.m. ET</figcaption></figure>
According to&nbsp;<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent020325&amp;t=be2bearmibe3na1" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>&nbsp;data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;rose 0.7% to $604.81.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) inched 0.3% up to $444.50.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>)&nbsp;rallied 1.3% to $529.73.</li>
<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rose 0.6% to $227.25.</li>
<li>The&nbsp;Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) outperformed, up 2%; the&nbsp;Financials Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>) lagged, down 0.7%.</li>
</ul>
<h3 class="wp-block-heading">Monday&#8217;s Stock Movers</h3>
Stocks reacting to earnings reports included:
<ul>
<li>McDonald&#8217;s Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>): up 3.8%</li>
<li>Rockwell Automation Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ROK#NYSE">ROK</a>): up 12.8%</li>
<li>ON Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ON#NASDAQ">ON</a>): down 6.6%</li>
<li>monday.com Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNDY#NASDAQ">MNDY</a>): up 30.3%</li>
<li>Insperity, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NSP#NYSE">NSP</a>): up 14.7%</li>
<li>Edgewell Personal Care Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EPC#NYSE">EPC</a>): down 9.7%</li>
<li>CNA Financial Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNA#NYSE">CNA</a>): up 2.1%</li>
<li>Incyte Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INCY#NASDAQ">INCY</a>): down 6.0%</li>
<li>Roivant Sciences Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROIV#NASDAQ">ROIV</a>): up 1.1%</li>
<li>GCM Grosvenor Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GCMG#NASDAQ">GCMG</a>): up 3.8%</li>
<li>PowerFleet, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AIOT#NASDAQ">AIOT</a>): up 32.3%</li>
</ul>
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/global/25/02/43600852/china-sets-sights-on-us-tech-companies-as-trade-tensions-rise">China Sets Sights On Apple, Nvidia And Other US Tech Companies As Trade Tensions Rise</a></li>
</ul>
Photo: Shutterstock

Government

Large Cap

Macro Economic Events

Regulations

Econ #s

Tech

$BTC

AIOT

SPDR Dow Jones Industrial Average ETF Trust

GCMG

INCY

KALU

MNDY

ROIV

Select Sector SPDR-Consumer Discretionary

Tech Stocks Surge, Steelmakers Jump On Trump's 25% Tariffs, Copper Hits 9-Month Highs: What's Driving Markets Monday?

Shares of Cleveland-Cliffs Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>) are trading higher Monday. This follows President Trump's vow to impose a 25% tariff on <a href="https://www.benzinga.com/government/regulations/25/02/43592144/us-steel-aluminum-stocks-rally-as-trump-revives-25-tariff-plan">steel and aluminum imports.</a> 
Investors believe that this will help domestically based companies like Cleveland-Cliffs.
The stock could be breaking out and the downtrend that began a year ago may finally be over. This is why it is our <a href="https://www.benzinga.com/topic/stock-of-the-day">Stock of the Day</a>.
When a stock is trending lower, the market is full of ‘buyer's remorse'. People buy shares and come to regret doing so when the stock falls below the price they paid for it.
When this happens, many of these traders and investors decide to hold on to their losing positions. But they also decide that if they can eventually sell them at the same prices they paid for them and can get out of the position at breakeven, they will.
As a result, if the stock eventually rallies back up to the buying price, they place sell orders. Sometimes, there are so many of these sell orders that a price level that had been support can convert into a resistance level.
This action can be seen on the chart of Cleveland Cliffs.
Read Also: <a href="https://www.benzinga.com/government/regulations/25/02/43596413/corporate-americas-best-earnings-in-3-years-will-tariffs-end-wall-streets-honeymoon">Corporate America&#8217;s Best Earnings In 3 Years: Will Tariffs End Wall Street&#8217;s Honeymoon?</a>
Back in late April, the stock suffered an aggressive meltdown. But when it reached levels around $16.45, the buyers came out of the woodwork and put a floor underneath it. $16.45 became a support level.
Then in July, the support was broken and the price dropped lower. When this happened, many who paid around $16.45 for shares regretted doing so. A number vowed that if the stock got back up to $16.45, they would place sell orders so they can get out at breakeven.
There were so many of these orders that it created resistance at the price that had been support.
A similar price action occurred around the $14.25 level. In June it had been support. Then it turned into resistance in August and November.
But the tide may now be turning.
As you can see on the chart below, the $10.85 level was support in September and November. Recently, this level has been resistance. But the tariff news could be making the stock break this resistance.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="548" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/10111913/114-1024x548.png" alt="" class="wp-image-774881" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/10111913/114-1024x548.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/10111913/114-300x160.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/10111913/114-768x411.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/10111913/114.png 1528w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
When markets reach bottoms, buyer remorse fades. Levels that had been support may stop becoming resistance. This appears to be the case here. It could mean that Cleveland-Cliff's year-long downtrend is over and a new bull market is forming.
Read Next: 
<ul>
<li><a href="http://Momo Crowd Buys Stocks On Trump Imposing New Tariffs, China Frees Up Billions To Buy Gold">Momo Crowd Buys Stocks On Trump Imposing New Tariffs, China Frees Up Billions To Buy Gold</a></li>
</ul>
Image: Shutterstock

Technicals

Stock Of The Day: Tariffs Could Mean A New Bull Market For Cleveland Cliffs

U.S. stocks were higher, with the Nasdaq Composite gaining around 200 points on Monday.
Shares of Rockwell Automation, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ROK#NYSE">ROK</a>) rose sharply during Monday's session after the company reported <a href="https://in.benzinga.com/25/02/43596322/rockwell-automation-q1-results-defie-sales-decline-with-higher-margins-and-strong-cash-flow">first-quarter earnings above estimates.</a>
Rockwell Automation said sales fell 8.4% year over year and slid 7.6% organically to $1.881 billion, in line with the consensus of $1.881 billion. Total ARR grew 11%. Adjusted EPS was $1.83 (-10% YoY), above the analyst consensus of $1.59.
Rockwell Automation shares jumped 10.5% to $296.78 on Monday.
Here are some other big stocks recording gains in today's session.
<ul>
<li>SpringWorks Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWTX#NASDAQ">SWTX</a>) shares jumped 30.2% to $52.45 after announcing Merck KGaA is in advanced discussions to acquire the company.</li>
<li>monday.com Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNDY#NASDAQ">MNDY</a>) gained 28.8% to $332.78 after the company reported better-than-expected fourth-quarter financial results and first-quarter revenue outlook.</li>
<li>PowerFleet, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AIOT#NASDAQ">AIOT</a>) rose 24.2% to $7.39 after the company reported better-than-expected Q3 sales results and raised its FY25 sales and adjusted EBITDA guidance.</li>
<li>Satellogic Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SATL#NASDAQ">SATL</a>) gained 22.4% to $4.5200.</li>
<li>AST SpaceMobile, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASTS#NASDAQ">ASTS</a>) climbed 18.8% to $31.50.</li>
<li>Axsome Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AXSM#NASDAQ">AXSM</a>) rose 18.8% to $125.70 after the company reached a settlement agreement with Teva Pharmaceuticals resolving all patent litigation related to its Auvelity product.</li>
<li>Mobileye Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBLY#NASDAQ">MBLY</a>) gained 16.2% to $18.67 after B of A Securities upgraded the stock from Underperform to Neutral and raised its price target from $12 to $19.</li>
<li>Century Aluminum Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CENX#NASDAQ">CENX</a>) rose 15% to $21.50. Shares of steel and aluminum stocks traded higher after reports President Trump plans additional 25% tariffs on steel and aluminum.</li>
<li>Cleveland-Cliffs Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>) gained 11.6% to $11.19. Shares of steel and aluminum stocks traded higher after reports President Trump plans additional 25% tariffs on steel and aluminum.</li>
<li>Insperity, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NSP#NYSE">NSP</a>) rose 11.4% to $77.51 after the company reported better-than-expected fourth-quarter financial results.</li>
<li>Light &amp; Wonder, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LNW#NASDAQ">LNW</a>) rose 11% to $97.64.</li>
<li>Roku, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROKU#NASDAQ">ROKU</a>) surged 6.7% to $90.85.</li>
<li>BP p.l.c. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BP#NYSE">BP</a>) rose 6.3% to $34.32 after a report from The Wall Street Journal said Elliott Management has built a stake in the company and will push for changes.</li>
<li>Alibaba Group Holding Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) gained 6.1% to $109.84 after President Trump reportedly postponed tariffs on packages under $800 from China.</li>
<li>United States Steel Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>) rose 5.5% to $38.99.</li>
</ul>
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Rockwell Automation Posts Upbeat Earnings, Joins Insperity, BP, Alibaba And Other Big Stocks Moving Higher On Monday

Market Summary

General

Benzinga Market Summary: Trump Reportedly Plans Tariffs On Steel And Aluminum Imports, Gold Rises On Uncertainty, SSJ Reports Elliott Has Taken Stake In BP

Steel and aluminum stocks jumped Monday in premarket trading after President Donald Trump said he would reintroduce 25% tariffs <a href="https://www.benzinga.com/topic/metals">on imported metals</a>.
The move aims to reshape global trade <a href="https://www.benzinga.com/news/econ-s">and revive domestic production</a>, but also reignites trade tensions that defined his first term.
What Happened: In a statement aboard Air Force One on Sunday, Trump said the tariffs would apply to all countries, without specifying when they would take effect.
Markets reacted swiftly, with shares of major American steel and aluminum producers rallying ahead of the opening bell
Steel and aluminum stocks soared in premarket trading as investors quickly priced in the potential benefits for domestic metal producers.
Century Aluminum Co. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CENX#NASDAQ">CENX</a>) gained 10.4%, Nucor Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUE#NYSE">NUE</a>) climbed 7.2%, and Cleveland-Cliffs Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>) rose 7%. Alcoa Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AA#NYSE">AA</a>) up 5.2% and Kaiser Aluminum Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KALU#NASDAQ">KALU</a>) gained 2.5%. 
United States Steel Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>), which has faced pressure from foreign competition, advanced 4.3%, while Steel Dynamics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STLD#NASDAQ">STLD</a>) added 5.4%.
Read Also: <a href="https://www.benzinga.com/25/02/43587918/donald-trumps-expected-tariffs-on-aluminum-steel-imports-may-impact-domestic-companies-heres-a-list-of-metal-etfs-that-could-be-affected">Donald Trump&#8217;s Expected Tariffs On Aluminum, Steel Imports May Impact Domestic Companies: Here&#8217;s A List Of Metal ETFs That Could Be Affected</a>
Why It Matters: Tariffs have major implications for U.S. manufacturers, foreign exporters, and global supply chains. They also risk retaliatory measures from key U.S. trading partners.
Trump first imposed tariffs on steel and aluminum in 2018, citing national security concerns. Those duties—25% on steel and 10% on aluminum—aimed to protect domestic manufacturers from what he called unfair competition, particularly from China.
The policy sparked backlash from U.S. allies, including Canada and Mexico, but also drove up prices, boosting profits for domestic producers.
U.S. Census Bureau data shows that in 2024, the U.S. imported: 
<ul>
<li>$11.2 billion worth of steel from Canada; $9.5 billion worth of aluminum</li>
<li>$6.5 billion from Mexico; just under $1 billion in aluminum from Mexico.</li>
</ul>
&#8220;Canadian steel and aluminum support key industries in the U.S., from defense and shipbuilding to auto manufacturing,&#8221; Canadian Innovation Minister Francois-Philippe Champagne posted on X, adding that &#8220;We will continue to defend Canada, our workers and our industries.&#8221;
European steelmakers warned that tariffs could push excess global supply toward their markets.
&#8220;The measures would lead to further volume diversions to Europe, increasing import pressure due to overcapacity from China and other countries,&#8221; said Olaf Reinecke, CEO of German steelmaker Salzgitter.
What&#8217;s Next: Trump indicated plans to introduce reciprocal tariffs in the coming days, matching rates imposed by other countries on U.S. goods. These measures could take effect almost immediately.
&#8220;After the back and forth on Canada and Mexico tariffs, markets have distanced themselves from trading any tariff announcements,&#8221; said Robin Brooks, economist at the Brookings Institution. &#8220;Tariffs are not priced.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">After the back and forth on Canada and Mexico tariffs, markets have distanced themselves from trading any tariff announcements. So last night&#39;s news of steel and aluminum tariffs &#8211; which hit Canada and Mexico significantly &#8211; is largely being ignored. Tariffs are NOT priced&#8230; <a href="https://t.co/QfV67R3bN7">pic.twitter.com/QfV67R3bN7</a>
&mdash; Robin Brooks (@robin_j_brooks) <a href="https://twitter.com/robin_j_brooks/status/1888934023549854054?ref_src=twsrc%5Etfw">February 10, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
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Image: Shutterstock

Politics

Global

US Steel, Aluminum Stocks Rally As Trump Revives 25% Tariff Plan

GOLD

PAAS

SSRM

Shares of precious metals stocks are trading higher as gold and silver prices rise amid US tariffs on steel and aluminum.

Shares of steel and aluminum stocks are trading higher after reports President Trump plans additional 25% tariffs on steel and aluminum.

Whales with a lot of money to spend have taken a noticeably bullish stance on Cleveland-Cliffs.
Looking at options history for Cleveland-Cliffs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>) we detected 10 trades.
If we consider the specifics of each trade, it is accurate to state that 60% of the investors opened trades with bullish expectations and 40% with bearish.
From the overall spotted trades, 6 are puts, for a total amount of $295,673 and 4, calls, for a total amount of $811,128.
<h3>Predicted Price Range</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $10.0 to $19.0 for Cleveland-Cliffs over the last 3 months. 
<h3>Volume &amp; Open Interest Development</h3>
In today's trading context, the average open interest for options of Cleveland-Cliffs stands at 2446.29, with a total volume reaching 70,170.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Cleveland-Cliffs, situated within the strike price corridor from $10.0 to $19.0, throughout the last 30 days.
<h3>Cleveland-Cliffs 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1738946780_0.png" alt="Options Call Chart" />
<h3>Largest Options Trades Observed:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>CLF</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>12/19/25</td>
<td>$1.01</td>
<td>$0.97</td>
<td>$1.0</td>
<td>$15.00</td>
<td>$500.0K</td>
<td>2.3K</td>
<td>55.0K</td>
</tr>
<tr>
<td>CLF</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/19/25</td>
<td>$1.06</td>
<td>$1.06</td>
<td>$1.06</td>
<td>$15.00</td>
<td>$119.8K</td>
<td>2.3K</td>
<td>1.1K</td>
</tr>
<tr>
<td>CLF</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/15/27</td>
<td>$5.65</td>
<td>$5.6</td>
<td>$5.6</td>
<td>$15.00</td>
<td>$101.9K</td>
<td>367</td>
<td>182</td>
</tr>
<tr>
<td>CLF</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/19/25</td>
<td>$1.08</td>
<td>$1.02</td>
<td>$1.03</td>
<td>$15.00</td>
<td>$101.2K</td>
<td>2.3K</td>
<td>2.2K</td>
</tr>
<tr>
<td>CLF</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>02/21/25</td>
<td>$0.13</td>
<td>$0.1</td>
<td>$0.11</td>
<td>$12.00</td>
<td>$89.9K</td>
<td>13.6K</td>
<td>10.0K</td>
</tr>
</tbody>
</table>

<h3>About Cleveland-Cliffs</h3>
Cleveland-Cliffs Inc is a flat-rolled steel producer and manufacturer of iron ore pellets in North America. It is organized into four operating segments based on differentiated products, Steelmaking, Tubular, Tooling and Stamping and European Operations, but operates through one reportable segment -Steelmaking. 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 serves a diverse range of other markets due to its comprehensive offering of flat-rolled steel products. Geographically, it operates in the United States, Canada and other countries. The majority of revenue is from the United States. It is a supplier of steel to the automotive industry in North America.
<h3>Present Market Standing of Cleveland-Cliffs</h3>
<ul>
<li>Trading volume stands at 3,699,595, with CLF's price down by -0.47%, positioned at $10.61.</li>
<li>RSI indicators show the stock to be may be approaching overbought.</li>
<li>Earnings announcement expected in 17 days.</li>
</ul>
<h3>Expert Opinions on Cleveland-Cliffs</h3>
A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $11.0.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; Maintaining their stance, an analyst from Morgan Stanley continues to hold a Equal-Weight rating for Cleveland-Cliffs, targeting a price of $11. 
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Cleveland-Cliffs with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

Market Whales and Their Recent Bets on CLF Options

A leading domestic steel supplier, Cleveland-Cliffs Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>), published a <a href="https://www.benzinga.com/25/02/43441283/cleveland-cliffs-falls-on-q4-loss-ceo-applauds-trumps-tariffs-for-2025-boost">preliminary report</a> expecting 2024 to be one of the worst years in over a decade. The report characterized 2024 by muted demand from the automotive sector — the company&#8217;s largest customer base — and broader economic headwinds.
"We expect 2025 to be a year of recovery. We have already seen improvements in our order book, both automotive and non-automotive, and are confident that the manufacturing-friendly items on President Trump's agenda will have an outsized benefit on Cleveland-Cliffs," CEO Lourenco Goncalves said.
Still, tariffs have been a double-edged sword for the U.S. steel industry. While they aim to protect domestic manufacturers from foreign competition, they often lead to higher prices for imported and domestic steel. 
Canada and Mexico, the largest suppliers of steel to the U.S., accounted for 35% of all steel imports in 2024, according to the American Iron and Steel Institute. The reimposition of tariffs on these countries has sparked concerns about retaliatory measures and potential supply chain disruptions.
"The issue with tariffs is everybody raises their prices, even the domestics. We're all going to get a price increase," Ralph Hardt, owner of Belleville International, a Pennsylvania-based manufacturer, <a href="https://www.wsj.com/economy/trade/trump-tariffs-mexico-canada-us-steel-market-a36c3b99">said</a> for the Wall Street Journal.
Morgan Stanley's 2025 outlook for the steel sector agrees with those concerns, predicting higher steel prices due to tariffs but tempered by limited demand growth. The firm forecasts a modest 1.6% increase in U.S. steel consumption in 2025, driven by gains in construction and infrastructure projects. However, continued weakness in the automotive sector, which accounts for 19% of steel demand, could offset these gains.
Morgan Stanley also notes the influx of new domestic steel capacity, spurred by earlier tariffs, could lead to oversupply and price pressures in the medium term.
Cleveland-Cliffs&#8217; outlook is mixed. While the company stands to benefit from reduced competition due to tariffs, its financial leverage remains a concern following the Stelco acquisition. In addition, the company has just issued an additional $750 million bond sale to boost its finances.
Citing weaker-than-expected auto demand and stable steel prices as factors that could weigh on free cash flow generation, Morgan Stanley maintains its Equal Weight rating but lowers its price target for Cleveland-Cliffs <a href="https://www.benzinga.com/quote/CLF/analyst-ratings">from $13 to $11 per share</a>.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/02/43432736/copper-stocks-on-shaky-ground-jpmorgan-analysts-say-tariffs-deepseek-cloud-outlook">&nbsp;</a> • <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/02/43432736/copper-stocks-on-shaky-ground-jpmorgan-analysts-say-tariffs-deepseek-cloud-outlook">Copper Stocks On Shaky Ground, JPMorgan Analysts Say: Tariffs, DeepSeek Cloud Outlook</a>

Photo: Courtesy Cleveland-Cliffs

Price Target

Cleveland-Cliffs' Tariff Optimism Doesn't Impress Analyst

Cleveland-Cliffs shares are trading lower after Morgan Stanley cut its price target on the stock from $13 to $11.

Cleveland-Cliffs Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>) shares are trading lower Monday after the<a target="_blank" href="https://www.benzinga.com/pressreleases/25/02/b43431003/cleveland-cliffs-provides-preliminary-fourth-quarter-and-full-year-2024-results" rel="noreferrer noopener"> company reported preliminary results</a>.
For the fourth quarter of 2024, Cleveland-Cliffs expects steel shipments of 3.8 million net tons, with revenues of around $4.30 billion <a href="https://www.benzinga.com/calendars/guidance" target="_blank" rel="noreferrer noopener">(vs. consensus of $4.49 billion)</a>.
Also, the company anticipates an adjusted EBITDA loss of about $85 million in the quarter.
For 2024, steel shipments are expected to reach 15.6 million net tons, with revenues around $19.2 billion (vs. street view of $19.37 billion) and adjusted EBITDA of around $775 million.
<a href="https://www.benzinga.com//node/41690362">Including Stelco</a>, the pro-forma adjusted EBITDA for 2024 is expected to be about $1.2 billion.
Cleveland-Cliffs attributed its weaker results, particularly in fourth-quarter, to subdued demand from the North American automotive sector.
Lourenco Goncalves, Cliffs&#8217; Chairman, President, and CEO, said, &#8221;So far into this new year, we have already seen improvements in our order book, both automotive and non-automotive, and are confident that the manufacturing-friendly items on President Trump&#8217;s agenda will have an outsized benefit on Cleveland-Cliffs.&#8221;
&#8221;This includes the recently announced tariffs on Mexico, Canada, and China and the expectation that there is more to come on steel specifically. Stelco has been a major contributor since day 1 and a substantial portion of our expected synergies are already in motion. Based on their experience in 2018, we expect Stelco will benefit from steel tariffs as well. We look forward to the success in 2025 that all of these developments will ultimately bring.&#8221;
&#8220;We applaud President Trump for taking decisive action on tariffs. Cleveland-Cliffs is a firm believer in the long-term positive impact that tariffs can play to make America a manufacturing superpower once again.&#8221;
Apart from this, Cleveland-Cliffs disclosed its intention to offer $750 million in Senior Guaranteed Notes due 2031, subject to market <a target="_blank" href="https://www.benzinga.com/pressreleases/25/02/b43431022/cleveland-cliffs-inc-announces-proposed-offering-of-750-million-of-senior-unsecured-guaranteed-not" rel="noreferrer noopener">conditions and other factors</a>.
The company plans to use the net proceeds for general corporate purposes, which includes the repayment of borrowings under its asset-based credit facility.
The company plans to release fourth-quarter and full-year 2024 earnings <a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">results on February 24, 2025</a>.
Investors can gain exposure to the stock via SPDR S&amp;P Metals &amp; Mining ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XME#NYSE">XME</a>) and VanEck Steel ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLX#NYSE">SLX</a>).
Price Action: CLF shares are down 2.64% at $9.97 at the last check Monday.
Read Next:
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<li><a href="https://www.benzinga.com/25/01/43230432/ancora-holdings-readies-proxy-fight-at-us-steel-amid-merger-chaos" target="_blank" rel="noreferrer noopener">Ancora Holdings Readies Proxy Fight At US Steel Amid Merger Chaos</a></li>
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Photo: Vladimir Mulder/Shutterstock.com.

Mid Cap

Guidance

Cleveland-Cliffs Predicts Q4 Revenue Miss & EBITDA Loss, CEO Applauds Trump's Tariffs For 2025 Boost

Morgan Stanley analyst Carlos De Alba maintains Cleveland-Cliffs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>) with a Equal-Weight and lowers the price target from $13 to $11.

Morgan Stanley Maintains Equal-Weight on Cleveland-Cliffs, Lowers Price Target to $11

Press Releases

Cleveland-Cliffs Reports Third-Quarter 2024 Results

Opinion

This Little-Known Metal Just Exploded 200%, Here are 2 Ways To Play It

Cleveland-Cliffs Appoints Jane Cronin to the Board of Directors

Cleveland-Cliffs Comments on U.S. Steel's and Nippon Steel's Desperate Lawsuits: Deflecting Blame on Everyone Else for their Own Mistakes

Cleveland-Cliffs to Host Press Conference with Lourenco Goncalves at its Butler Works Mill in Butler, Pennsylvania at 1:00 pm ET Today

Cleveland-Cliffs to Announce Full-Year and Fourth-Quarter 2024 Earnings Results on February 24 and Host Conference Call on February 25

Ancora Nominates Majority Slate of Director Candidates and Proposes Industry Legend Alan Kestenbaum as New CEO to Turn Around U.S. Steel

Cleveland-Cliffs Provides Preliminary Fourth-Quarter and Full-Year 2024 Results

Cleveland-Cliffs Inc. Announces Proposed Offering of $750 Million of Senior Unsecured Guaranteed Notes

Cleveland-Cliffs Inc. Announces Upsizing and Pricing of $850 Million of Senior Unsecured Guaranteed Notes due 2031

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