Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Cleveland Cliffs provided an update to Q1 2021 guidance based on its most recent financial forecast for 2021 and ahead of its next quarterly report set for April. 


The company’s estimate includes the following outlook: adjusted EBITDA of nearly $500mn in Q1 2021, adjusted EBITDA of approximately $1.2bn in Q2 of 2021, and adjusted EBITDA of approximately $3.5bn for the full year 2021.


The full-year projection is based on current contractual business and the assumption that the US HRC price averages $975/nt for the rest of this year.


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