U.S. Markets close in 5 hrs 37 mins

Has Cliffs Been Able to Reduce Its Costs?

Annie Gilroy
Has Cliffs Been Able to Reduce Its Costs?

The cash cost of goods sold for Cleveland-Cliffs’s (CLF) APIO division was $66.36 per ton in 1Q18, 78% higher YoY (year-over-year) and 49% higher sequentially. The increased costs were mainly due to the inclusion of accounting adjustments required for the planned closure of the operations.