Steel company Cleveland-Cliffs’ (CLF) shares soared over the past few months as steel prices surged with rising demand. Its shares plummeted after hitting a 52-week peak of $26.51 (August 13), as China implemented measures to reduce steel production. So, can the stock rebound on the back of its solid financials?.Cleveland-Cliffs Inc. (NYSE:) became the largest flat-rolled steel company and the largest iron ore pellet producer in North America after acquiring AK steel and ArcelorMittal (NYSE:) USA last year. Thanks to the soaring steel prices, CLF’s shares surged 212% over the past year. CLF also plans to have net-zero debt by 2022. Its adjusted EBITDA will be approximately $1.80billion in the third quarter.

Also, the stock soared to hit its 52-week high of $26.51 on August 13, on the back of investors’ optimism surrounding the infrastructure bill. It has fallen 24% from its 52-week peak and has declined 16.5% in the last month, as China continues to reduce steel production. Nancy Pelosi, the Speaker of the House of Representatives suggested that today’s $1 trillion multipartisan infrastructure bill may not be voted on by the U.S. House of Representatives. So, CLF’s near-term prospects look uncertain.

Here’s what could influence CLF’s performance in the upcoming months:

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