Look at the nonresidential chart provided by ABC:
Spending is still near yearly highs. This guy really knows how to bend the numbers!
Better than down 2 cents... thanks for the update. Do you have access to the prices of US iron ore pellets?
From the AISTech 2015 Summary
"Declining iron ore quality is being improved from the mines through to pellet binders. DRI shipped tonnage today exceeds that of HBI The greater carbon (chemical) energy efficiency of DRI’s in-situ carbon can significantly alter the VIU of DRI. Site specific VIU should consider ability to handle high %C (deC tools, OGS), use of low oxide load (gangue) DRI/HBI (organic binders) and (long-term) charge pre-heating to reduce operating costs. As standard operating procedures (SOPs) are altered to accommodate DRI use, the benefits and VIU of DRI will be maximized and detriment to the EAF operations minimized. EAF optimization will be site specific, balancing VIU of DRI and metallics with SOPs The VIU of DRI burdens changes significantly with price. With the advent of cheap North American shale gas and the drive to invest in new DRI plants, a long term quality metallics supply can be guaranteed. DRI use will be grow as the “price will be right”!. Combining VIU, DRI specific SOPs, educated use of DRI will allow mills to produce low cost liquid steel as effectively as scrap charges. "
From the Cargo Handbook where HBI is classified type A DRI where DRI requirements apply and specifically type A:
"All types of DRI
Fines are now defined as particles up to 6,35 mm in size.
The carrier’s representative is to have reasonable access to stockpiles and loading installations for inspection.
The cargo temperatures are to be monitored during loading and recorded in a log.
The ship shall be provided with a detector suitable for measuring hydrogen in an oxygen depleted atmosphere and for use in a flammable atmosphere.
Cargo temperatures and hydrogen concentrations in hold atmospheres are to be monitored on voyage.
The hydrogen concentration is to be measured in holds prior to opening hatch covers.
All records of measurements are to be retained on board for two years
DRI (A), Briquettes, hot-moulded
The maximum limit on the moisture content is 1%
The cargo is to comprise essentially whole briquettes.
Surface ventilation only shall be conducted as necessary. When mechanical ventilation is used, the fans shall be certified as explosion-proof and shall prevent spark generation. Wire mesh guards shall be fitted over inlet and outlet ventilation openings."
It is expensive to ship these and tend to serve the immediate markets. These have been around for a long time, same logistics problems exist.
Noticed this thread, could really care less about what Skittle thinks, that is why I have nick (skittle), mike (solar) and jeff (oht) on ignore. There is a way to figure out who these posters are, it is clear they don't know....
$281 million due in 2018, currently CLF has no money drawn against a $550 million ABL Facility. Paying these bond holders is not going to be a problem.
Thanks for the report, good to see you here in the morning before I head out to my next job!
So this is telling me that we have a bunch of new buyers into this stock that will not be willing to sell to shorts to cover for some time to come. All of this will make the short squeeze more intense when it does happen.
This is after paying their interest expense! With good earnings comes reductions in their interest rates which in turn will increase their earnings another 50 cents a share.