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winchem21

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winchem21

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Re: winchem21 post# 25196

Monday, 03/07/2022 10:04:47 AM

Monday, March 07, 2022 10:04:47 AM

Post# of 29291
CLF at 8-year high, up 75% since January

Integrated Steel producers US Steel (X) and Cleveland-Cliffs are up over 6% today while EAF steel producers Nucor and Steel Dynamics are currently down for the day. X and CLF blast furnaces are not dependent on pig iron imports as EAF producers are and both have the capability to rapidly add pig iron production capabilities.

75% of the ~5 million tons per year of US pig iron imports are from either Russia or Ukraine and investors are shifting to integrated producers that had market values of 1-1.5 X EBITDA in January.

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