Buy CLF by Jun 26, 2026.

With steel tariffs at 25%, the domestic producers that were always fighting uphill against cheap imports just had the playing field completely tilted in their favor. Cleveland-Cliffs is the most interesting name here because they are not just a steel producer — they are fully vertically integrated from iron ore mining through finishing. That matters because when scrap prices spike or imported slab gets expensive, CLF is producing at a cost structure their competitors cannot replicate. The bear case has …