This Steel Giant Has a Plan for Inflation
Like many of its North American steel-making peers, Cleveland-Cliffs (NYSE: CLF) has been reporting impressive earnings over the last few quarters. However, there's the not-so-small issue of rising costs to contend with. Luckily, Cleveland-Cliffs has a tool at its disposal to deal with inflation.
Cleveland-Cliffs was not a steel company until March 2020, when it bought AK Steel. It became an even bigger producer toward the end of 2020 when it completed the acquisition of ArcelorMittal's U.S. business. Those two transactions vaulted the company onto the leader board in the U.S. steel sector, along with peers Nucor (NYSE: NUE), Steel Dynamics (NASDAQ: STLD), and United States Steel (NYSE: X).
But there are important differences among these companies.
Source Fool.com
