Cleveland-Cliffs Shares Rise 2.90% on $310M Volume Rank 369th in U.S. Equities

Cleveland-Cliffs Inc. (NYSE: CLF) surged 2.90% on September 25, 2025, with a trading volume of $0.31 billion, ranking 369th among U.S. equities. The stock’s performance reflects renewed investor confidence in the steel sector amid shifting market dynamics.

Recent developments highlight strategic positioning within the industry. Analysts note that CLF’s operational efficiency and exposure to critical raw materials have become focal points as global demand for steel continues to stabilize. The company’s recent capital allocation decisions and production capacity adjustments are being closely monitored for their long-term implications.

Market participants remain cautious about macroeconomic indicators, including inflationary pressures and interest rate expectations, which could influence raw material costs and borrowing expenses. CLF’s ability to navigate these challenges while maintaining margins will likely dictate its near-term trajectory.

To run this test properly, we’ll need to clarify several parameters. The universe definition must specify whether it includes U.S. equities exclusively or a broader global scope, and whether ETFs, ADRs, or OTC instruments are included. Additionally, the rebalancing frequency—whether executed daily between 2022-01-01 and the present—must be confirmed. The current back-test engine is limited to single-ticker strategies, which poses challenges for cross-sectional approaches like “buy the top 500 by volume.” Alternative methods, such as using pre-computed daily ticker lists or approximating with high-liquidity indices, could be explored. Further direction is required to finalize the testing framework.