22
Apr
12:54
'Transformed' Cleveland-Cliffs posts flagship profit
Cleveland-Cliffs recorded a net profit in its first full quarter as North America’s largest flat-rolled steel producer, Kallanish reports.
Cliffs earned $41 million on revenues of about $4 billion, excluding a total of $160m in charges related to inventory revaluation from ArcelorMittal USA; debt extinguishment; and various other acquisition-related costs.
In Q1 2020 - before the current incarnation of Cliffs - the company posted a loss of $52m …
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Anonymous
Very good overview of the weekly steel market.
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