The steel producer’s earnings are expected to more than double in the coming months as steel prices continue to climb and supplies remain tight as a result of tariffs.
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Shares of Cleveland-Cliffs are up about 16% after the steelmaker forecast profits in the back half of the year will be the strongest in five years. Cliffs is the largest producer of steel for the automotive industry. Goncalves said he would consider restarting an idle steel mill in Dearborn, Mich., if automakers commit to relocating more vehicle production to the U.S. from Mexico, Canada or South Korea.
Pre-Market Stock Futures: Futures are trading mixed as we prepare to finish the last full week of the second quarter. We finished a wild holiday-shortened trading week last Thursday, as Friday was the federal Juneteenth holiday, and all major indices rebounded smartly from the Federal Reserve-induced sell-off on Wednesday. Details of the signed memorandum of ... Here Are Monday’s Best Wall Street Analyst Research Calls: Accenture, Apple, Boyd Gaming, BWX Technologies, Conoco-Phillips, Estee Laud
President Trump’s second-term trade agenda has hardened into a structural policy regime, with U.S. steel imports sitting at their lowest levels since the global financial crisis. That backdrop has turned the under-$40 corner of the industrial market into one of the most asymmetric setups in the market, where a single multi-quarter pricing cycle can re-rate ... 1 Cash-Rich Industrial Titan Under $40 to Buy Hand Over Fist to Capitalize on the New Trump Tariff Supercycle