End of Deficit? Steel Stocks Surge 5%

Cleveland-Cliffs Inc. (CLF), a U.S. steelmaker, closed at $8.42 on the New York Stock Exchange on the 24th, up 5.10%. Trading volume topped 12.19 million shares, and its market capitalization swelled by roughly $260 million to about $4.8 billion (approximately KRW 6.5 trillion) in a single day.

In its February 9 release of fourth-quarter and full-year 2025 results, the company acknowledged underperformance in 2025 but forecast a marked improvement in profitability in 2026, driven by higher shipment volumes and improved selling prices. Earlier in January, it signed a memorandum of understanding with POSCO, opening the door to collaboration on high-value-added steel products and the improvement of its financial structure, thereby strengthening its global partnerships.

As North America’s largest flat-rolled steel producer and a key supplier to the U.S. automotive industry, Cleveland-Cliffs has secured cost competitiveness through vertical integration from iron ore mining to steelmaking. Since 2020, the company has transformed from a traditional mining firm into an integrated steelmaker by consecutively acquiring AK Steel and ArcelorMittal USA’s assets.