Why Is CLEVELAND-CLIFFS INC (CLF) Stock Down Today?

Cleveland-Cliffs Inc stock fell 5.82% to $10.52 on Thursday, pressured by reports that the U.S. and Canada are nearing a trade deal that would cut tariffs on Canadian steel and aluminum. The development has weighed on the steel sector, with CLF joining peers like NUE and STLD in a broad selloff. The stock traded at its lowest level since early August and has now printed its eighth 52-week low in a single session.

What Happened

The decline came after media reports indicated that President Trump is expected to reduce import tariffs on Canadian steel and aluminum from 50% to 25%. This news triggered a sharp intraday drop for CLF, which opened at $11.17 and fell to a session low of $10.49 before closing near that level. The stock has struggled in recent months amid a challenging market environment, with a trailing twelve-month net margin of -4.6% and a beta of 2.12, making it particularly sensitive to sector-wide swings. The move also follows a recent insider sale by the company’s CFO, who sold shares on June 5.

What The Data Shows

The stock’s performance was amplified by weak sentiment, with a 7-day average of 45 out of 100, down from a 30-day average of 59. Volume was elevated at 3.1 million shares, or 0.2 times the 3-month daily average, indicating some short-term distress. The price action has also pushed CLF closer to its 52-week low of $7.73, with no recent insider buying to counterbalance the selling. Retail traders on social media have also noted the stock as oversold, though no specific price targets were cited.

What To Watch

Cleveland-Cliffs has no upcoming earnings report scheduled in the near term. Investors will need to monitor the breadth of coverage and analyst ratings as the trade developments unfold, with recent upgrades and downgrades from GLJ Research and Barclays offering mixed signals.