Shares of iron ore mining company Cleveland-Cliffs Inc. (CLF) are up more than 15% Wednesday morning and touched a new high of $20.09 after the company provided new EBITDA outlook for the first quarter as well as full year.
The company now sees first quarter adjusted EBITDA to be about $500 million.
Full-year adjusted EBITDA is now expected at about $3.5 billion.
Cleveland-Cliffs is scheduled to report its first quarter earnings on April 22.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.