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Actionable news in CLF: CLIFFS NATURAL RESOURCES Inc,

Will Cliffs Natural Resources (CLF) Stock Be Hurt by Citigroup’s Bearish Iron Ore Forecast?

NEW YORK (TheStreet) -- Shares of Cliffs Natural Resources (CLF - Get Report) are rising by 4.63% to $4.29 on Monday afternoon, even as Citigroup said the global iron ore market faces severe oversupply and the commodity's advances will likely be reversed in the second half of the year, Bloomberg reports.

Output gains, such as from miners that resumed production after this year's rebound, and likely losses in steel prices will combine to hurt iron ore, according to the bank's quarterly commodities report cited by Bloomberg.

Although declines in iron ore's price may have been delayed, they are still coming, Citigroup said.

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