Cleveland Cliffs Inc (CLF)

[Saving Grace]

No, Section 201 of the 1974 Trade Act. Presidents Ronald Reagan used it in the 1980s and George W. Bush enacted it in the 2000s.

Nolan has a bill in Congress that would impose a five-year ban on steel imports to help the market recover without having riders attached to it like the bill before the break.

The iron ore and steel markets are cyclical in nature, eventually the market will correct itself as it always does. With a profitable core segment that is less subject to international market influences, Cliffs Natural Resources should outlast the rough parts of this market since it has followed through with plans to shutter its nonprofitable business segments. Cliffs' position in the iron ore market makes it hard to justify hating this company's stock as much as Wall Street does right now with a brand new DRI segment with new electric arc customers already aboard.