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Stock Market & Financial Investment News

News Breaks
May 15, 2014
10:19 EDTCLFCliffs Natural repeats FY14 CapEx forecast of $375M-$425M
Sees FY14 USIO sales volume of 22M-23M tons, sees ECIO sales volume of 6M-7M tons, APIO sales volume of 10M-11M tons, NAC sales volume of 7M-8M tons. Says remains fully committed to acting in the best long-term interests of all shareholders. Says company, advisors have had an ongoing dialogue with Casablanca since December 2013, says Cliffs has made "a number" of offers to Casablanca in an effort to settle, but Casablanca has rejected all offers. Cliffs says will continue to pursue a resolution that avoids a "costly and distracting" proxy contest. Comments from slides that will be presented at the Bank of America Merrill Lynch 2014 Global Metals, Mining & Steel Conference.
News For CLF From The Last 14 Days
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July 7, 2015
11:11 EDTCLFIron ore bear market deepens as prices fall below $50 a ton, Bloomberg says
The bear market in iron ore is deepening as cheaper supplies from Australia and Brazil threaten to expand, says Bloomberg. Iron ore prices have dropped to below $50 a ton and have dropped more than 20% from June highs, added Bloomberg. Companies exposed to the iron ore market include Cliffs Natural (CLF), BHP Billiton (BHP) and Vale (VALE). Iron ore prices are also impacting the steel sector including U.S. Steel (X), Nucor (NUE), AK Steel (AKS) and Steel Dynamics (STLD). Reference Link
July 6, 2015
12:09 EDTCLFIron ore slumps as China stockpiles recover, Bloomberg says
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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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