Cleveland-Cliffs Inc. (CLF - Free Report) shares have lost 33.6% in the past six months, underperforming the Zacks Mining – Miscellaneous industry’s decline of 7.2%. The bearishness is partly due to the underlying challenges in the steel industry as reflected by the significant retreat in U.S. steel prices due to a combination of demand slowdown and oversupply, which have triggered a downward revision in CLF’s earnings estimates.
CLF is currently trading at a roughly 56% discount to its 52-week high of $22.97 reached on April 4, 2024.
The main theme of domestic favourable macro front remains unchanged, SHFE aluminium prices showed a ‘v-shaped’ rebound today
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Two contrast sequences set to boost China’s aluminium smelters’ profitability, offsetting tariff losses. What are they?
