28
Apr
16:53
Cliffs sees US turnaround, Australian discipline behind profits
Cleveland, Ohio-based iron ore producer Cliffs Natural Resources credits a general turnaround in the US steel market and Australian supply-side discipline for its return to the black in the first quarter.
Cliffs posted net income of $117 million in Q1 on sales of $306m. In Q1 2015, Cliffs lost $762m on sales of $446m. Last year, Cliffs focused heavily on paying down outstanding debt, Kallanish notes.
"Cliffs' first-quarter results clearly demonstrate…
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Anonymous
Very good overview of the weekly steel market.
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