Jim Cramer on Cleveland-Cliffs: Trade, Rare Earths, and US Steel

Cleveland-Cliffs' Third Quarter Earnings

• 📊 Cleveland-Cliffs released its third quarter earnings, with commentary highlighting a positive new trade environment.
• 💡 The United States is described as the most attractive steel market globally, attributed to trade policies that prevent dumping.

Strategic Focus on Rare Earths and Mining

• 💎 Beyond steelmaking, Cleveland-Cliffs is refocusing on potential opportunities in upstream mining assets, particularly rare earths.
• 📍 The company has identified potential rare earth deposits in Michigan and Minnesota, areas where they already have mining operations.

Stock Performance and US Steel Bid

• 📈 Despite the strategic developments, the stock price has remained relatively stagnant over the past three years.
• 💔 Cleveland-Cliffs actively pursued and fought to acquire US Steel, but ultimately failed to get the deal approved.
• ⚠️ The future of steel in America remains unclear following the failed acquisition attempt.