Cleveland Cliffs Inc (CLF)

[DewDiligence]

CLF is +8% as I’m typing. They had another excellent CC this morning with much discussion on using hydrogen to replace coke as the reductant in CLF’s blast furnaces (#msg-173015932) and thereby producing “green steel.”

CLF’s CEO said the UAW strikes at the “Detroit 3” has not had a material effect on CLF’s business, and he expects the strike to be over during the current quarter. The Detroit 3 represents less than half of CLF’s steel shipment to the auto industry.

CLF was unable to comment during the CC on its pursuit of the X merger, but I stand by the assertion in #msg-172586306 that the deal is a fait accompli.