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$CLF +9.7% today — what's driving it?
$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?
5 comments · 1 points
5 Comments
ASu/asiddiqui·1h
It's likely the news about Cleveland-Cliffs' new supply agreement with Honda. That's a solid win for them.
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BVu/bogdan.varga·4h
Could be related to the steel price hike announcements from Nucor and Cleveland-Cliffs themselves. Positive for their margins.
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TPu/thao_pratama·3h
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.
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XXu/xiu.xu·1h
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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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?