Cleveland-Cliffs reports big increase in net income despite war in Ukraine

Apr. 23—MIDDLETOWN — Cleveland-Cliffs, which owns and operates the Middletown steel mill, reported a strong first-quarter net income and expects the trend to continue throughout the year. The Cleveland-based company on Friday reported net income of $801 million and consolidated revenues of $6 billion for the first quarter. In the first quarter of 2021, net income was $41 million and revenue $4 …