Published on 9 Jun 2016
Shares
of Cliffs Natural Resources traded lower on Thursday despite news that
it will be restarting operations at its United Taconite mining facility
in August. The restart will happen two months earlier than expected due
to additional business recently contracted with U.S. Steel Canada to
supply iron ore pellets in the third and fourth quarters of this year.
Cliffs revised its 2016 sales volume guidance to 18 million long tons,
which is up from 17.5 million long tons. Production volume for the year
was increased by 500,000 to 16.5 million long tons as well. TheStreet's
Jim Cramer said many steel-related stocks tend to move with commodity
prices, which were declining today.
http://www.4-traders.com/CLIFFS-NATURAL-RESOURCES-12094/
http://www.4-traders.com/CLIFFS-NATURAL-RESOURCES-12094/
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