US Steel Stocks Rally Led by Cleveland-Cliffs' 10% Jump Ahead of Earnings

Key Facts

1Cleveland-Cliffs stock jumped 10% to $12 as concerns regarding the Stelco announcement began to fade.

2Nucor and Steel Dynamics shares rose by 5% amid a broader recovery in the steel sector.

Cleveland-Cliffs stock jumped 10% to reach $12 as market concerns regarding the late-September Stelco announcement began to fade. 247wallst.com reported that shares of Nucor and Steel Dynamics also rose by 5% amid a broader recovery in the U.S. steel sector ahead of upcoming quarterly results.

CLF closed at $11.32 on October 2, 2026, while NUE recorded a close of $240.39 and STLD closed at $231.99 on the same date. Market focus is shifting toward Cleveland-Cliffs' third-quarter earnings report scheduled for October 19, 2026, following a period where average steel selling prices rose to $1,124 per net ton in the second quarter of 2026.