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Benzinga
190 days

Stock Of The Day: Tariffs Could Mean A New Bull Market For Cleveland Cliffs

1. Cleveland-Cliffs shares gained due to Trump's steel tariff announcement. 2. Domestic companies, like CLF, may benefit from higher tariffs on imports. 3. Resistant price levels may indicate potential growth for CLF after downturn. 4. Support at $10.85 might shift to resistance, prompting buying momentum.

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FAQ

Why Bullish?

Tariffs can significantly boost domestic steel prices, enhancing CLF's profitability, similar to past tariff impacts on U.S. steel stocks.

How important is it?

The article discusses market dynamics directly relating to Cleveland-Cliffs, indicating likely price volatility based on news.

Why Short Term?

Short-term market reactions to tariff news can drive immediate stock price movements, as seen with CLFs previous upward trends.

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