Cleveland-Cliffs Inc. (CLF) shares are experiencing an uptick today, driven by positive market sentiment surrounding the company's strategic moves, including its recent acquisition of Stelco Holdings. This acquisition has positioned Cleveland-Cliffs as the largest flat-rolled steel producer in North America, enhancing its market presence and expertise. The company has projected robust demand for steel in 2025, alongside a significant rise in EBITDA, supported by strategic projects and favorable coal pricing. Cost synergies from the Stelco merger, estimated at $120 million, are expected to provide substantial financial benefits, further boosting investor confidence.
Cleveland-Cliffs Inc. stock is currently trading at $12.50, reflecting a 2.97% increase from its previous close of $12.14.