Cliffs Natural Resourcs to supply ArcelorMittal

Cliffs Natural Resources Inc. (NYSE: CLF) entered a new long-term agreement to supply ArcelorMittal (NYSE: MT) with tailor-made iron ore pellets. Shares of Cliffs Natural Resources surged $1.21 to close at $4.28 while ArcelorMittal stock added 14 cents to close at $4.86.