5/5 Thurs.... $61/Mt
As you can see, the IO price is holding up well in Low to Upper $50's and CLF should do well to sell in mid $80's /Mt with profit margins of $25-$30/ton
SP is well below $2.99 already @ $2.85. It amazes me how quickly CLF's SP deteriorate within few minutes. NO Price Stability at all.
On how this stock was taken from $5.80 to woodshed in 2 trading weeks. Good earnings, tariffs, higher IO price,additional contracts all nulifies by Huge Debt it carries.
atrue.. no steak dinner yet..lol. SP sunk like skunk. We have to wait now till Q-2 earnings date to see if it gets to $5 and stays there.
CLF stock price is not affected by markets or other miners' stock price. It does its own bloody thing and its a good trading stock only if you know how to trade.
We need to spend some $500B redoing the Infrastructure That can use a lot of steel and that means a lot of IO too. Our roads, bridges, RR tracks and BLDG are in such bad shape and need replaced or repaired.
Volume of USIO needs to get over 20 mil tons at least and hope it does with all these new businesses This is Very IMP for their Cash Flow and if CLF is going to chip away at debt slowly.
A lot more Steel production in USA and More contracts with Steel companies in USA and Canada. If Trump becomes president , It will happen in USA. That will perk up US IO volume. in 2013-14, US IO volume was around 22 mil tons. and it can happen again.
Per year so that CLF can pay down debt slowly. Until The debt comes down under $1B, This stock will trade between $3 and $7.. assuming it has consistently earnings QTR after QTR. If SB IO keeps going up,
Perhaps the APIO Unit may bring in some $300 mil-$400 mil on a sale that can be used for debt
reduction. Getting any cash from Canadian assets is too fluid to consider now.