ADVFN - Advanced Financial Network.
HOME» NYSE » C » CLF Stock Price » CLF Stock News

Cleveland Cliffs Share News

 Cliffs Natural Resources, Inc. Stock Price
CLF Stock Price
 Cliffs Natural Resources, Inc. Stock Chart
CLF Stock Chart
 Cliffs Natural Resources, Inc. Stock News
CLF Stock News
 Cliffs Natural Resources, Inc. Company Information
CLF Company Information
 Cliffs Natural Resources, Inc. Stock Trades
CLF Stock Trades

Cliffs CFO: Mining Companies On Sidelines Of Iron-Ore Swaps Market

By Matt Day Of DOW JONES NEWSWIRES NEW YORK -(Dow Jones)- The iron-ore derivatives market will continue to grow, but miners of the steel component don't see a need to hedge at current prices, the chief financial officer of Cliffs Natural Resources (CLF) said Thursday. Laurie Brlas said while the company was watching developments in the market for iron-ore derivatives, Cliffs wasn't interested in participating. The Cleveland company is the largest North American iron-ore producer. "We're not in the business of speculating in the market," Brlas told Dow Jones Newswires on the sidelines of a Dahlman Rose & Co. conference, adding she was satisfied with Cliffs' exposure to cash prices, which is growing as Cliffs' long-term pricing agreements expire and are replaced with contracts that move more in line with market prices. In some metals and other commodities markets, producers use derivatives contracts to lock in sales prices on a portion of their production and guarantee some of their cash flow. Iron-ore miners and steelmakers have generally been reluctant to use such hedges. Other market participants have stepped in, and trading activity in iron-ore swaps cleared by Singapore Exchange Ltd. (S68.SG) reached record highs in October. Iron-ore trading "will evolve into a real marketplace," Brlas said, but she said mining companies have yet to see the benefit of jumping into the market. Brlas said she expects prices in the coming years to remain at levels that maintain a healthy profit margin, underpinned by rapid growth in emerging-market steel demand and the high cost of iron-ore mining in top producer China. Thursday, the benchmark spot price of iron ore delivered into China rose 0.3% to settle at $147.60 a metric ton, according to The Steel Index. -By Matt Day, Dow Jones Newswires; 212-416-4986; matt.day@dowjones.com

Stock News for Cleveland Cliffs (CLF)
DateTimeHeadline
05/24/201612:39:00Cliffs Issues Clarification Statement
05/24/201608:00:00Cliffs Announces Agreements with Minnesota Power
05/20/201608:20:00Cliffs Natural Resources Inc. Garners Top Honors for Raw Materials...
05/09/201617:27:25Statement of Changes in Beneficial Ownership (4)
05/06/201618:00:46Statement of Changes in Beneficial Ownership (4)
05/06/201617:25:00Casablanca Capital Issues Statement Regarding Sale of Equity...
05/02/201616:36:30Current Report Filing (8-k)
04/29/201617:09:48Statement of Changes in Beneficial Ownership (4)
04/29/201617:09:48Statement of Changes in Beneficial Ownership (4)
04/29/201617:03:17Statement of Changes in Beneficial Ownership (4)
04/29/201616:57:32Statement of Changes in Beneficial Ownership (4)
04/29/201616:56:37Statement of Changes in Beneficial Ownership (4)
04/29/201616:53:29Statement of Changes in Beneficial Ownership (4)
04/29/201616:51:17Statement of Changes in Beneficial Ownership (4)
04/29/201616:50:26Statement of Changes in Beneficial Ownership (4)
04/29/201616:49:34Current Report Filing (8-k)
04/28/201608:09:08Current Report Filing (8-k)
04/28/201608:00:00Cliffs Natural Resources Inc. Reports First-Quarter 2016 Results
04/27/201616:19:06Securities Registration: Employee Benefit Plan (s-8)
04/05/201610:17:10Statement of Changes in Beneficial Ownership (4)

Cleveland Cliffs and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2015 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad