Thoughts on US Steel & Cleveland Cliffs News
The news dropped Sunday night that Cleveland Cliffs (CLF) has offered a cash and stock bid worth $7.3B for US Steel (X).
steel
Coal News & Price Data – July 25, 2023 – Met Coal Price Update
Australian metallurgical coal prices were stable, while CFR China strengthened on higher domestic & increased interest in prompt cargoes.
Note on Met Coal & Steel Markets
With Australian PLV trading at a premium to CFR China, the arbitrage for Australian coal into China remains firmly closed.
Tata Steel Interview in the Australian Financial Times
A recent article was published in the Australian Financial Times with the title “This global steel boss says Australia is not investing enough in coal.” This was a poor editing choice for a title as the content was primarily geared towards the long term outlook for coking coal demand in India. There were a couple questions which touched on the Australian investment climate as it pertains to coal supply, but the meat of the article pertains to the long term nature of coking coal demand. This is why I think every coal investor should read it.