Cleveland Cliffs Inc (CLF)

[greasemonkeyshoes]

Projected USIO price(realized) range for 3Q 2016.......
Kelly Tompkins:
http://seekingalpha.com/article/3992928-cliffs-natural-resources-clf-c-lourenco-goncalves-q2-2016-results-earnings-call-transcript
"Based on customer mix and year-to-date average, compared to the revenue guidance table we provided, we do expect a slight dip in our revenue per ton rate in Q3 before closing out the year around our projected average..." 2Q 2016,USIO Realized price of $77.81 per long ton

clf 8k for 2Q 2016:
https://www.sec.gov/Archives/edgar/data/764065/000076406516000262/clfq220168-kex991.htm
"The U.S. Iron Ore table further assumes full-year hot-band steel pricing of approximately $480 per short ton. The Company notes that this estimate is based on its customers’ realized prices and not an index or spot market price, valid through the end of 2016. For every $50 per short ton change in the customers’ full-year hot-rolled steel prices, Cliffs U.S. Iron Ore revenue realizations per long ton in 2016 would be expected to increase or decrease $2.00 if steel prices increase or decrease, respectively."

What's in store for 3Q USIO price,highside??
With HRS increase of $40,4% sensitivity,plus 10% more(short to long ton),
3Q realized price(long ton)= $77.81+$1.76=$79.57 or about $80 per ton

bottom line:
clf USIO price range: $76 to $80 per long ton,3Q 2016.