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Why Investors Should Ignore Cliffs’ Weak US Volumes in 1Q18

Annie Gilroy
Why Investors Should Ignore Cliffs’ Weak US Volumes in 1Q18

Can 1Q18 Pave the Way for Cleveland-Cliffs Stock to Re-Rate? Cleveland-Cliffs (CLF) achieved US volumes of ~5.4 million tons in 4Q17. Its volumes in the latest quarter reflect a YoY (year-over-year) fall of 22%. An above-average pace of shipping during the first nine months of 2017 and a previously highlighted reduction of pellet nominations by a customer reduced its volumes in 4Q17.