Cleveland-Cliffs Stock Plummets 37.41% in Trading Volume, Falls to 509th in Market Activity

On June 23, 2025, Cleveland-Cliffs Inc. (CLF) experienced a significant decline, with its trading volume dropping by 37.41% to 1.97 billion, placing it at the 509th position in the day's market activity. The stock price fell by 0.86%, marking the third consecutive day of decline, with a total decrease of 9.78% over the past three days.

In early June, Cleveland-Cliffs saw a substantial surge in its stock price, driven by the announcement of new steel tariffs. The U.S. government's decision to double tariffs on imported steel to 50% created a favorable environment for domestic steel producers like Cleveland-Cliffs. This move was expected to make imported steel more expensive, thereby giving domestic producers a competitive edge.

The tariff announcement was made by President Trump during a rally in Pennsylvania on May 30, 2025. The new tariffs were set to take effect on June 4, 2025, and were anticipated to have the most significant impact on Canada, the largest steel exporter to the U.S. Retail investors responded positively to the news, betting that the tariff boost could improve Cleveland-Cliffs' margins and revive its fortunes.