July 11, 2024
Our Checks Suggest Cleveland Cliffs May be Trying to Stop the Bleeding of Hot-Rolled-Coil Prices Falling. In checks we conducted yesterday, we were informed that CLF is alleged to be offering a significant baseload of…
June 6, 2024
Are Street Ests. Too High, and Are Service Centers Actively Trading Steel Stocks Amongst Themselves, Suggesting the “Great Restocking” That Many Steel Bulls Have Become Accustomed to is Not Coming Anytime Soon? The, somewhat complicated,…
March 28, 2024
Is Cleveland Cliffs Really a BUY Here? With the S&P 500 up +10.0% year-to-date (“YTD”), vs. CLF being up +8.4% over the same timeframe (i.e., CLF has underperformed), not to mention the QQQs being up…
February 6, 2024
Looking Past Last Year’s Delayed Recession, the Real Thing Appears Set to Take Hold in 2024. While steel industry CEO’s have maintained a positive bias thru 4Q23 earnings reporting season, contrary to the belief of…
December 5, 2023
The Spread Between US HRC Spot Prices and Foreign HRC Spot Prices Has Exploded Higher Recently; is it Justified? As detailed below (Ex. 1), since 10/13/23, US HRC spot prices have surged +$335/s. ton, vs….
August 14, 2023
Cliff’s Offers to Pay a 42% Premium for US Steel, Effectively Crediting the Company for its “Best for All®” Strategy Before it’s Been Fully Executed (a huge plus for US Steel’s shareholders). Last night, we…