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Stock impact report

Cleveland Cliff Stock Down 50% In 2024 To Yearly Low [Forbes]

Cleveland-Cliffs Inc. (CLF) 
Last cleveland-cliffs inc. earnings: 2/20 07:00 am Check Earnings Report
Company Research Source: Forbes
SOPA Images/LightRocket via Getty Images Cleveland-Cliffs , a vertically integrated steel mill operator, has seen its stock decline by 50% since the beginning of the year as compared to the 28% gain in the S&P 500 Index. Cleveland-Cliffs downward stock price movement is much sharper compared to that for its peers, including VALE (NYSE: VALE) which is down 42% year to date, ArcelorMittal which is down 13% year to date, United States Steel Corporation down 31% year to date, and Nucor Corp (NYSE: NUE) which is down 30% year to date. This fall has been primarily due to the adverse business conditions that the industry is going through. Steel prices in the U.S. have witnessed a declining trend due to subdued demand in the domestic market with weak manufacturing activities. Globally, demand in the sector remains subdued due to oversupplies in the European market as well as high inventory levels in China. Cleveland Cliffs has a high exposure to the automotive sector, which continues to Show less Read more
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