ÐÇ¿Õ´«Ã½

FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
GUNNING DAVID H
Ìý 2. Issuer Name and Ticker or Trading Symbol
CLEVELAND CLIFFS INC [CLF]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Vice Chairman
(Last)
(First)
(Middle)
1100 SUPERIOR AVENUE,Ìý15TH FLOOR
3. Date of Earliest Transaction (Month/Day/Year)
10/30/2006
(Street)

CLEVELAND,ÌýOHÌý44114
4. If Amendment, Date Original Filed(Month/Day/Year)
6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 10/30/2006 Ìý S Ìý 1,000 D $ 42.53 96,604 D Ìý
Common Stock 10/30/2006 Ìý S Ìý 300 D $ 42.22 96,304 D Ìý
Common Stock 10/30/2006 Ìý S Ìý 700 D $ 42.13 95,604 D Ìý
Common Stock 10/30/2006 Ìý S Ìý 200 D $ 42.01 95,404 D Ìý
Common Stock 10/30/2006 Ìý S Ìý 800 D $ 42 94,604 D Ìý
Common Stock 10/30/2006 Ìý S Ìý 1,000 D $ 42.02 93,604 D Ìý
Common Stock 10/30/2006 Ìý S Ìý 1,500 D $ 42.1 92,104 D Ìý
Common Stock 10/30/2006 Ìý S Ìý 3,000 D $ 42.2 89,104 D Ìý
Common Stock 10/30/2006 Ìý S Ìý 200 D $ 42.28 88,904 D Ìý
Common Stock 10/30/2006 Ìý S Ìý 1,800 D $ 42.25 87,104 D Ìý
Common Stock 10/30/2006 Ìý S Ìý 1,000 D $ 42.26 86,104 D Ìý
Common Stock 10/30/2006 Ìý S Ìý 500 D $ 42.38 85,604 D Ìý
Common Stock 10/30/2006 Ìý S Ìý 2,500 D $ 42.35 83,104 D Ìý
Common Stock 10/30/2006 Ìý S Ìý 3,000 D $ 42.39 80,104 D Ìý
Common Stock 10/30/2006 Ìý S Ìý 10,000 D $ 42.5 70,104 D Ìý
Common Stock 10/30/2006 Ìý S Ìý 10,000 D $ 42.62 60,104 D Ìý
Common Stock 10/30/2006 Ìý S Ìý 10,000 D $ 42.58 50,104 D Ìý
Common Stock 10/30/2006 Ìý S Ìý 4,000 D $ 42.7 46,104 D Ìý
Common Stock 10/30/2006 Ìý S Ìý 174 D $ 42.71 45,930 D Ìý

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. SEC 1474 (9-02)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(Month/Day/Year)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Retention Units 2004-2006 (1) Ìý Ìý Ìý Ìý Ìý Ìý Ìý (2) Ìý (2) Common Shares 4,260 Ìý 4,260 (3) D Ìý
Retention Units 2005-2007 (1) Ìý Ìý Ìý Ìý Ìý Ìý Ìý (4) Ìý (4) Common Shares 2,040 Ìý 2,040 (5) D Ìý
Retention Units 2006-2008 (1) Ìý Ìý Ìý Ìý Ìý Ìý Ìý (6) Ìý (6) Common Shares 1,830 Ìý 1,830 (7) D Ìý

Reporting Owners

Reporting Owner Name / Address Relationships
ÌýDirector Ìý10% Owner ÌýOfficer ÌýOther
GUNNING DAVID H
1100 SUPERIOR AVENUE
15TH FLOOR
CLEVELAND,ÌýOHÌý44114
Ìý X Ìý Ìý Vice Chairman Ìý

Signatures

ÌýDavid H. Gunning Ìý 10/30/2006
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Convertible into Common Shares on a 1-for-1 basis.
(2) Retention Units granted to Reporting Person under the ÐÇ¿Õ´«Ã½ Inc Long-Term Incentive Program covering the period of January 1, 2004 to December 31, 2006 (Retention Period). Retention units will be paid out to the Reporting Person in cash based on the market value price of the Common Shares of the Issuer on the last day of the Retention Period.
(3) On December 31, 2004 the common stock of Cleveland-CLiffs Inc split 2-for-1 resulting in the reporting person's acquisition of 1,065 additional retention units. On June 30, 2006, ÐÇ¿Õ´«Ã½ announced another 2-for-1 stock split, resulting in the reporting person's acquisition of 2,130 additional retention units.
(4) Retention Units granted to Reporting Person under the ÐÇ¿Õ´«Ã½ Inc Long-Term Incentive Program covering the period of January 1, 2005 to December 31, 2007 (Retention Period). Retention units will be paid out to the Reporting Person in cash based on the market value price of the Common Shares of the Issuer on the last day of the Retention Period.
(5) On June 30, 2006, the common stock of ÐÇ¿Õ´«Ã½ Inc split 2-for-1, resulting in the reporting person's acquisition of 1,020 additional retention units.
(6) Retention Units granted to Reporting Person under the ÐÇ¿Õ´«Ã½ Inc Long-Term Incentive Program covering the period of January 1, 2006 to December 31, 2008 (Retention Period). Retention units will be paid out to the Reporting Person in cash based on the market value price of the Common Shares of the Issuer on the last day of the Retention Period.
(7) On June 30, 2006, the common stock of ÐÇ¿Õ´«Ã½ Inc split 2-for-1, resulting in the reporting person's acquisition of 915 additional retention units.

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