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Cleveland-Cliffs (NYSE:CLF) closed +2% in Wednesday’s trading after saying it raised current spot market base prices for all carbon steel hot rolled, cold rolled and coated steel products by a minimum of $75/ton, Dow Jones reported.
The higher prices are effective immediately with new orders in North America.
Cleveland-Cliffs (CLF) shares are “ridiculously cheap,” with commodities in a supercycle, Leo Nelissen writes in a bullish analysis published recently on Seeking Alpha.
Quad 7 Capital concurs, saying the stock’s valuation is “ridiculous” and “we simply can’t remember a stock like this,” in another recently posted bullish analysis on Seeking Alpha.
Image and article originally from seekingalpha.com. Read the original article here.