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Prices of hot-rolled steel coil, a benchmark for the market, have dropped to $1,135 a ton from $1,900 at the end of the third quarter.
Ina Fassbender/AFP via Getty Images
Cleveland-Cliffs
stock is falling after its fourth-quarter earnings disappointed the market. Shares of the steelmaker are inexpensive, but investors fear falling profits—and sliding prices for the metal.
Cliffs (ticker: CLF) stock was down 3.1% on Friday morning….
