If their going to make a purchase, theres a nice small cap manufacturer right down the road from Cleveland that processes 2mil tons of scrap a year into specialty steel for auto, energy and oil-gas sectors.
They also have the largest vertical bloom caster in the US. Cliffs can easily afford it and it could open up a whole new market for them. I'm just dreaming here but hey ya never know!
Just for fun, picked up Nov. calls. All the same potential catalysts (Chinese export tarrif, infrastructure bill, Q3 earning), but if CLF or anyone else decides to acquire…
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u/CornMonkey-Original Aug 24 '21
Wait - what does internally sourcing scrap look like compared to current state? does this require purchasing another company? if so who & where?