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DewDiligence

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DewDiligence

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Re: DewDiligence post# 28987

Tuesday, 01/30/2024 1:11:17 PM

Tuesday, January 30, 2024 1:11:17 PM

Post# of 29588
CLF 4Q23 CC notes:

In 2024, CLF expects to use free cash flow approximately 50% for debt reduction and 50% for share buybacks (subject to market prices). This is a big change from the 2023 allocation, which was roughly 85% for debt reduction and 15% for share buybacks.

CLF expects the US index price of HRC to be relatively stable in 2024 (unlike 2023). For the fixed-price contracts up for renewal in 2024, CLF expects to realize an ASP for HRC in the range of $1,000-1,150/ton.

Toyota, CLF’s largest individual customer, has its fixed-price contract up for renewal on 4/1/24.

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

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