Canada’s federal government issued a stern ultimatum to Cleveland-Cliffs, demanding the integrated steel maker halt planned layoffs affecting its Canadian workforce. Officials granted the company a 15-day window to comply with the directive, warning that failure to act could result in substantial fines or a state-mandated divestiture of its northern assets.
In section Market Quotes
Investors Pivot to Commodities as AI Stocks Stumble
A sharp retreat in artificial-intelligence shares triggered a market rotation toward the Old Economy on Tuesday, driving gains for producers of metals and grains. While traders sought refuge in raw materials, gold futures faced a different fate, sliding 2% as speculative interest in the precious metal cooled.
Global supply dynamics continue to shift as China ramps up its industrial output. A surge in Chinese aluminum exports is successfully buffering the market against supply chain disruptions caused by conflicts in the Persian Gulf, stabilizing prices for the essential industrial metal despite regional volatility.
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