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November 20, 2012
11:49 EDTCLFCliffs Natural falls to fresh 52-week low, levels to watch
The shares are down over 8% at time of writing, falling to a fresh 52-week low at $31.18 before bouncing back. That level is currently support. Resistance is at $32.25. The shares were downgraded earlier today at Goldman to Sell from Neutral. The firm slashed its price target to $25, down from $33. Goldman cited delays in the Bloom Lake expansion and a reduction in U.S. capacity as the company idles portions of production at two U.S. iron ore operations. Weaker ore demand was also a factor in the downgrade.
News For CLF From The Last 14 Days
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June 30, 2015
14:34 EDTCLFIron ore producers slide after Australia cuts price target on the commodity
Shares of iron ore producers are falling after Reuters reported that Australia reduced its 2015 price forecast for iron ore to $54.40 a tonne from $60.40 a tonne. According to Reuters, Australia's current projection on iron ore prices is based on its view that China, the commodity's main market, will produce less steel in 2015 and 2016 as as the seaborne supply of iron ore increases. PRICE ACTION: Cliffs Natural Resources (CLF) is down over 10%, BHP Billiton (BHP) is lower by 2.3%, and Vale (VALE) is down 4% in afternoon trading. Steel stocks, including United States Steel (X), AK Steel Holding (AKS), and Nuco (NUE) are also sliding in afternoon trading.

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