15 Stocks That Stole The Show Last Week

Page 8 of 14

7. Cleveland-Cliffs Inc. (NYSE:CLF)

Cleveland-Cliffs grew its share prices by 30.36 percent week-on-week as investor sentiment was buoyed by President Donald Trump’s imposition of tariffs on steel and aluminum imports.

On June 4, Trump’s 50-percent tax on steel and aluminum imports officially took effect. The new levies followed his accusation against China of violating an agreement with the US to mutually reduce levies and trade restrictions for critical minerals.

The imposition of new duties on imported steel and aluminum products makes domestic manufacturers such as Cleveland-Cliffs Inc. (NYSE:CLF) more appealing to investors as it may bolster demand for their products, support competitive pricing for locally-produced goods, and further reduce competition with international producers.

Cleveland-Cliffs Inc. (NYSE:CLF) is a US-based steel and iron ore manufacturer based in Cleveland, Ohio.

Page 8 of 14