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Stock impact report

Market Sentiment Shifts as Buyers Resist Steelmaker Price Increases [Yahoo! Finance]

Cleveland-Cliffs Inc. (CLF) 
Last cleveland-cliffs inc. earnings: 2/20 07:00 am Check Earnings Report
Company Research Source: Yahoo! Finance
U.S. flat rolled steel prices continued to trade down throughout March. Meanwhile, HRC prices fell 8.35% to close the month at a new lower low. However, hot rolled coil prices traded up during the first week of April, returning to where they stood in early March. Steel Prices Flatten After Price Hikes Steelmaker price hikes throughout March offered a visible hurdle to the flat rolled downtrends as steel prices began to move sideways after trading lower last month. HRC and HDG prices showed slight increases during the first week of April after both found a bottom at the close of March. Meanwhile, CRC prices continued to edge lower, still searching for a new bottom. However, the tempo of price declines appeared increasingly slow over recent weeks. As the steel price downtrends lost momentum, market signals continued to conflict, leading to significant directional uncertainty over the future of the price trends. While they proved enough to stem further losses, price hikes from mil Show less Read more
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