Bloomberg News

Cliffs Natural Resources Rises After Iron-Ore Prices Advance

October 08, 2012

Cliffs Natural Resources Inc. (CLF:US), the largest U.S. iron-ore producer, rose the most in three weeks after a jump in prices for the steelmaking raw material.

Cliffs increased 4.5 percent to $40.09 as of 10:31 a.m. in New York, after earlier climbing as much as 5 percent, the most intraday since Sept. 14.

Iron ore for immediate delivery in China rose 6 percent to $110.40 a ton, the biggest gain in a month, according to data from The Steel Index Ltd.

To contact the reporter on this story: Sonja Elmquist in New York at selmquist1@bloomberg.net

To contact the editor responsible for this story: Sonja Elmquist at selmquist1@bloomberg.net


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Companies Mentioned

  • CLF
    (Cliffs Natural Resources Inc)
    • $8.74 USD
    • -0.76
    • -8.7%
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