Why do you bunch of fools believe in CLF's Bankruptcy? they made $6 mil in operating profit in Q-3 under the worst scenario and paid down debt by $100 mil. The Q-4 will be much better with at least $0.50 in operating earnings
Who will supply high Quality IO pellets to US Industry if NOT CLF? BHP,RIO? It costs $30/ton to ship IO and who would want cheap BHP and RIO IO with 58%-62% ground stuff costing $75/Mt here.. What CLF must and needs to do is to keep reducing debt by at least $100 mil each QTR and pay it all off in 3 to 4 years. After this QTR , CLF will also save $53 min in pref.dividend annually and that is almost like $0.35/sh..
LG recently said the shipment of APIO IO to China will rise by 1/2 mil ton to 11.5 mil tons in 2015 and has gross margins of $12-$15/ton and EBITDA will be around $125 mil before APIO's CapEx and SG&A expenses which are minimal..
Also coal mines if not sold, LG said he will cut all cost in HALF and that operation will be also EBITDA positive. So all in all it looks good for CLF, but it will take time.
#$%$ BHP and RIO has to do in USA? They are NOT here and cant bring their cheap IO #$%$ here. In US its all CLF here and US steel industry needs high quality high grade 63%-66% Fe containing pellets. So CLF will not go bankrupt like Coal industry. All they MUST do is to keep reducing debt and go in partnership with NUE to develop DR pellets that NUE can convert to DRI pellets to make a very high quality steel.
Go get LOST!!
They will need to go with ground troops like 10,000 each from US, France, UK and Russia and also arial bombing at the same time until they get all ISIS cells and locations in both Syria and Iraq. This will cause all commodities including steel, oil and gold to move up rapidly.
I agree there will be an negative impact on Monday morning on stock market but it may be short lived if major governments decide to go attack ISIS cells in a big way. CLF in the end may gain as more spending on defense takes place.
This is NOT real. Its a carryover from Friday. The new Futures will not start till Sunday night 8 pm .
I think if US, France, UK and Russia along with some Middle East countries decide to attack ISIS Cells and AreaS with COORDINATED ground troops and air bombing, IT WILL BE GREAT FOR COMMODITIES INCLUDING STEEL ,IO COPPER etc as defense machine all over the world will get in a high gear. Thus good for CLF's business
I am not sure but will not be surprised if something like this happens soon and defense and commodities stock can move in a high gear. It may be like a mini 3rd WW to finish off ISIS
We need a huge Infrastructure spending on bridges, roads,tunnels, railroads etc. to bring up all commodities prices especially Steel, Copper, IO, cement and brass. House Chairman Paul Ryan needs to move
fast to approve Infrastructure Bill and MUST use US manufactured materials.
surf.. you should write to MN State legislators and tell them that ESSR can not produce and ship DRI pellets safely and give them the reason that in WET environment it will react with water and release Hydrogen and cause Explosion. and fire .
Bob Pasani of CNBC just said that we are in a GLOBAL DEFLATIONARY PRESSURE and Rate Hike is NEVER good in that environment.