Cliffs Natural Resources (NYSE: CLF) has been out of the news recently and its stock mostly traded in a range since the middle of August. This is about to change as the company will report its third-quarter results on October 27.

Two topics dominated the news scene after the company priced its share offering at $6.75 per share. The first one was the topic of sustainability of steel prices in the U.S. The steel price decline would hurt Cliffs' customers and the company's realized prices as they are dependent on realized steel prices of customers.

The second topic was the sustainability of iron ore prices. Together, these two factors - the fear of steel market correction and the fear of iron ore market correction - put pressure on Cliffs' shares and they were unable to show meaningful upside. Let's look at them in the light of the upcoming earnings report. Seeking Alpha