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.