Cleveland-Cliffs Inc. (CLF): “They Buy Almost All American,” Says Jim Cramer

We recently published 12 Stocks Jim Cramer Talked About. Cleveland-Cliffs Inc. (NYSE:CLF) is one of the stocks Jim Cramer recently discussed.

Cleveland-Cliffs Inc. (NYSE:CLF) is a steel company whose shares have gained 17.5% year-to-date. The firm has primarily benefited from President Trump’s decision to clamp down on cheap Chinese steel flooding the US market, which is a phenomenon Cramer has regularly discussed in his show. The shares have recently gained on the back of key news such as divestitures and strong earnings performance. Here’s what Cramer said about Cleveland-Cliffs Inc. (NYSE:CLF):

“I know Lorenzo Goncalves tonight. Uh, Cleveland-Cliffs, I’ve got him for Mad Money. He bought Stelco. Stelco, doesn’t look good, bad. . .but it’s absolutely true that the President doesn’t want any steel made elsewhere. And that is, just another driving force.

“Remember, they buy almost all American. And Lorenzo’s offering a nice deal there for anybody who works there in terms buying American. He also, by the way, I think was integral in what happened in Washington.”

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Previously, he discussed Cleveland-Cliffs Inc. (NYSE:CLF)’s balance sheet and exposure to the auto industry:

“Well I think that I wanted it [CLF] to win because I have been very suspicious of Nippon Steel which has had a history I believe of dumping in our country. And that is I’m getting that Dan DiMicco, the former CEO of Nucor who has continually told me the kind of dumping that we’ve seen around the world.

]”David, Cleveland-Cliffs, the balance sheet not as strong as I would hope. . . Look, Cleveland-Cliffs is. . .you can say that it’s predominant, a lot is auto steel. And auto is a section of the economy that we don’t talk enough about. Because that could be PDD’d, too. PDD, being, unfortunately deminimis. I’m just very concerned about Ford and GM. I just think that they, like many companies, build a lot of infrastructure, that was around, electric vehicles. They are under pressure.”

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Disclosure: None. This article is originally published at Insider Monkey.