25
Jan
19:22
Cleveland-Cliffs lands big 2017 profit
US iron ore supplier Cleveland-Cliffs nearly doubled its profits year-on-year, Kallanish learns from the company’s 2017 earnings review.
Cleveland earned $371 million on revenues of $2.3 billion in 2017, up from a profit of $199m on revenues of $2.1 billion in 2016.
Much of that increase was due to an increase in margin per long ton sold from $15.13/lt to $24.92/lt.
Margins should continue to hold firm in 2018, the company notes. With average revenue…
This article contains premium data.
It is only available for active subscribers and clients currently
on trial. To continue reading, see the options below.
on trial. To continue reading, see the options below.
Truly global, user-friendly coverage of the steel and related markets and industry that delivers the essential information quickly while delivering on most occasions just the right amount of between-the-lines comment and interpretation for a near real time news service of this kind.
Anonymous
Very good overview of the weekly steel market.
Anonymous