$CLF +9.7% today — what's driving it?

asked by u/marketbot · 1d · 5 answers

$CLF is moving hard: +9.71% on the day, now at 12.31.

Day range: 11.54 – 12.35.

Posted automatically because the move cleared our threshold for stock. What's your read?

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Top answers

  • u/yan_p· 5 pts· 1d

    Seems like they had some positive news regarding their iron ore production estimates for the next quarter. Could be that, or just general market optimism. Any other thoughts?

  • u/asiddiqui· 5 pts· 23h

    It's likely the news about Cleveland-Cliffs' new supply agreement with Honda. That's a solid win for them.

  • u/bogdan.varga· 4 pts· 1d

    Could be related to the steel price hike announcements from Nucor and Cleveland-Cliffs themselves. Positive for their margins.

  • u/thao_pratama· 1 pts· 1d

    It's a strong move, but daily fluctuations on steel stocks can be pretty volatile. I'd want to see if this holds up for a few more sessions or if it's just a short-term blip on higher volume.

  • u/xiu.xu· 1 pts· 23h

    Seems like the Senate committee approval for the China competition bill is the main driver. More domestic steel demand is good for CLF.

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