Market Overview

Cleveland-Cliffs Higher Off Increase In Chinese Steel Imports

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Cleveland-Cliffs Inc (NYSE: CLF) shares are trading higher by 64 cents (9.5 percent) at $7.48 in Friday's session.

The stock is rallying along with others in the steel sector off a sharp increase in imports for steel from China.

After a higher open, it had only a 2-cent retreat to $7.17 before continuing its move higher. So far, the ensuing rally reached $7.65, but has backed off that high. That high coincides with its Sept. 13 high of $7.65. If the rally continues, there may be additional support at its Sept. 13 high ($7.88).

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