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Re: DewDiligence post# 8455

Tuesday, 10/24/2023 10:29:22 AM

Tuesday, October 24, 2023 10:29:22 AM

Post# of 8590
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.

“The efficient-market hypothesis may be
the foremost piece of B.S. ever promulgated
in any area of human knowledge!”

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