Cleveland-Cliffs shares rose 3% to $11.32 on Wednesday as pressure across steel stocks eased. Nucor gained 0.4% to $236.62 and Steel Dynamics advanced 0.81% to $223.16, while the VanEck Steel ETF rose 0.28% to $102.79 and the SPDR S&P 500 ETF Trust added 0.49% to $767.94. The rebound followed an earlier decline linked to tariff-related developments at Cleveland-Cliffs’ Canadian subsidiary Stelco, which plans to indefinitely idle cold-rolled and coated operations at Hamilton Works and shift production toward Lake Erie Works in Nanticoke, Ontario. Near-term expectations call for about $0.24 in earnings per share and roughly $5.6 billion in revenue. Investors continue to assess tariff exposure, operational changes, capacity additions and Cleveland-Cliffs’ capital-intensive modernization plans.