Bear of the Day: Cliffs Natural Resources
by Zacks Equity ResearchDecember 18, 2012 | Comments : 0 Recommended this article: (0)
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The company cut its U.S. iron ore and North American coal sales volume forecasts for 2012 factoring in the volatile pricing environment. Cliffs remains hamstrung by lower iron ore pricing, partly due to the slowdown in Chinese demand and oversupply in the industry.
The prices for commodities are expected to remain under pressure due to the uncertain economic environment. The company also contends with higher labor and mining costs.
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