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Cleveland-Cliffs sees FY25 CapEx ~$525M, down from prior view of $600M

FY25: Selling, general and administrative expenses of approximately $550 million, from its previous expectation of $575 million; Steel unit cost reductions maintained at a reduction of approximately $50 per net ton compared to 2024, adjusted for improved automotive shipping volume; Depreciation, depletion and amortization maintained at approximately $1.2 billion; Cash Pension and OPEB payments and contributions maintained at approximately $150 million.

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