Cleveland-Cliffs Inc. (CLF) shares are down 3.05% to $12.14 as of 9:38 am on Tuesday, following a weak opening at $12.87. The decline comes amid a broader negative sentiment in the global steel market, as highlighted by recent industry reports. The International Rebar Producers and Exporters Association (IREPAS) noted a persistently gloomy outlook for the global longs market, which could be weighing on steel producers like Cleveland-Cliffs. Additionally, Germany's Salzgitter reported a net loss for the first nine months of the year, further contributing to the negative sentiment in the steel sector.