Cleveland-Cliffs Inc. is a mining and natural resources company in the United States. The Company is a major supplier of iron ore pellets to the North American steel industry. The company was founded in 1847 and is based in Cleveland, Ohio.
The U.S. death toll from the coronavirus that causes COVID-19 edged closer to 100,000 on Friday, as the news emerged that the Centers for Disease Control and Prevention has been combining the results of two different types of tests for the illness in a move that has been sharply criticized by health experts.
Cleveland-Cliffs Inc. said Thursday that its AK Steel subsidiary is increasing spot market base prices for all carbon flat-rolled steel products by a minimum of $40 per ton, effective immediately. That suggests prices are rising by at least 4%, as the iron ore mining company said the average net selling price per net ton of flat-rolled steel during the first quarter was $997. The stock, which was up 0.4% in afternoon trading, has lost 33.7% over the past three months, while the S&P 500 has declined 11.7%.