RTTNews | Jun 15, 2021 07:44AM EDT

07:43 Tuesday, June 15, 2021 (RTTNews.com) - Cleveland-Cliffs Inc. (CLF) said it expects second-quarter 2021 adjusted EBITDA of $1.3 billion and full-year 2021 adjusted EBITDA of $5 billion.

The full-year expectation is based on current contractual business and the conservative assumption that the US HRC index price averages $1,175 per net ton for the remainder of the year.

The company noted that it will announce its full second-quarter 2021 earnings results before the U.S. market open on July 22, 2021.

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