/biz/ - Business & Finance

>>28741473

It's unironically over

Long Cliffs

https://stocktwits.com/symbol/CLF

$CLF
02/2021
>Biden says China will 'eat our lunch' if U.S. doesn't move on infrastructure

https://www.cnbc.com/2021/02/11/biden-says-china-will-eat-our-lunch-on-infrastructure.html

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$CLF
02/2021
>"New orders for manufactured goods in December, up eight consecutive months, increased $5.2 billion or 1.1 percent to $493.5 billion, the U.S. Census Bureau reported today."

https://www.census.gov/manufacturing/m3/prel/pdf/s-i-o.pdf

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$CLF
02/2021
>"US trade court dismisses challenge to Section 232 steel tariff"

https://agmetalminer.com/2021/02/04/this-morning-in-metals-us-trade-court-dismisses-challenge-to-section-232-steel-tariff/

https://stocktwits.com/symbol/CLF

Steel Gang

>>28635594

Companies including Cleveland-Cliffs Inc. and U.S. Steel Corp. have kept blast furnaces idled on expectations that prices are likely to recede at some point, which would squeeze margins and potentially force expensive shutdowns again at those furnaces. While that tack bodes well for steelmaker profits, customers in industries from automobiles to appliances to machinery say they can’t get enough metal, and may need turn to overseas suppliers.

“That’s just blowing a giant hole in the idea of reshoring, where if you want to support U.S. manufacturing you need to have competitively priced inputs,” Josh Spoores, the principal steel analyst at CRU Group, said in a telephone interview. “It’s primarily steel and energy, and if either of those is out of whack and it’s not competitive where it is elsewhere, you’ll see manufacturing move to lower-cost areas.”

American plants are running at about 75% of their maximum potential, well off a recent peak of 83% in 2019 when they were receiving the full benefit of tariffs that former President Donald Trump implemented to protect the industry from imports.

$CLF
02/2021
>Biden says China will 'eat our lunch' if U.S. doesn't move on infrastructure

https://www.cnbc.com/2021/02/11/biden-says-china-will-eat-our-lunch-on-infrastructure.html

$CLF
02/2021
>"New orders for manufactured goods in December, up eight consecutive months, increased $5.2 billion or 1.1 percent to $493.5 billion, the U.S. Census Bureau reported today."

https://www.census.gov/manufacturing/m3/prel/pdf/s-i-o.pdf

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$CLF
02/2021
>"US trade court dismisses challenge to Section 232 steel tariff"

https://agmetalminer.com/2021/02/04/this-morning-in-metals-us-trade-court-dismisses-challenge-to-section-232-steel-tariff/

Uhhh steel is over $1200 a ton

Any DD on CLF? These CRBP bags are getting heavy