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
03/26/201511:08:33Canada's "Next Oil Sands Miracle" a Bust
03/26/201507:00:00Cliffs Natural Resources Inc. Announces Extension of Exchange...
03/26/201504:24:56It Had To Happen - An Outright Call For Iron Ore Collusion
03/25/201509:13:00Cliffs Natural Resources Inc. Announces Pricing of $540,000,000...
03/24/201507:16:42Cliffs Natural Resources Golden Shield And Gonclaves Will Prevail
03/24/201506:58:21Cliffs Natural Resources: My Thoughts On Recent Developments
03/24/201502:57:13Shake Shack Shares Persist On The Hard To Borrow List
03/23/201516:17:37Cliffs Natural Resources Inc (CLF) Stock Up 11% on Asset Sale
03/23/201510:28:25Cliffs Natural exits Ontarioâs Ring of Fire with $20M sale o...
03/23/201507:00:00Cliffs Natural Resources Inc. Agrees to Sell its Chromite Assets...
03/19/201514:28:24Scotiabank Files Lawsuit Against Cliffs Over Canadian Mine Loans
03/19/201507:00:00Cliffs Natural Resources Inc. Announces Proposed Offering of...
03/15/201503:03:0310 Rife Russell 1000 Dividend Dogs Do 9.42% To 32.35% March Upsides
03/13/201505:15:41Found: A Large Seller In Cliffs
03/13/201503:44:15Cliffs Natural Resources CEO Yearns For Iron Ore Collusion, Uh...
03/11/201523:46:00Cliffs Natural Resources Inc. Announces Results to Date of Exchange...
03/11/201502:10:43Cliffs CEO Urges Iron-Ore Miners to Rethink Supply Surge
03/10/201503:48:21Cliffs Bonds: Thoughts On Tender Decision
03/09/201510:36:31Cliffs Natural cut to Sell, price target slashed to $2 at Axiom
03/09/201507:21:08Insider Insider Buys And Sells: Twitter, Graham Holdings

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 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad