Jim Cramer Couldn’t Stop Gushing About Cleveland-Cliffs’ (CLF) Rare Earth Announcement

Core Insights - Cleveland-Cliffs Inc. (NYSE:CLF) experienced a share price increase of over 20% following a surprising announcement regarding rare earth metals by its CEO [1] - The CEO, Lorenzo Goncalves, emphasized the renewed importance of rare earth elements and indicated that the company is refocusing on its upstream mining assets in Michigan and Minnesota [1] Company Performance - The third-quarter earnings report for Cleveland-Cliffs Inc. was positively received, leading to a significant rise in share value [1] - The company's strategic pivot towards rare earth metals is seen as a response to the evolving trade environment in the United States, which is considered the most attractive steel market globally [1] Industry Context - The announcement aligns with the current trade policies enforced by the Trump administration, which are aimed at preventing dumping practices in the steel market [1] - The focus on rare earth elements reflects a broader trend in the industry, where companies are exploring additional revenue streams beyond traditional steel production [1]