20
Jul
19:23
Cleveland-Cliffs sees big Q2 profit jump
US iron ore producer witnessed a massive surge in profits during the second quarter, which company executives believe heralds a new long-term trend for the company, Kallanish reports.
Cleveland-Cliffs saw its earnings rise from $84 million on sales of $471m in Q2 2017 to $229m on sales of $714m in the quarter ended 30 June.
“Our second quarter is a definitive statement about the new Cliffs and our earnings power," says ceo Lourenco Goncalves. "…
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Anonymous
Very good overview of the weekly steel market.
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