CLF reported earnings today of $1.69 per share for Q4 and the market doesn't seem to be pleased as the stock is down more than 6% at the time of this post.
Not trying to compare CLF with STLC but would like to highlight a statement that was made by the CLF that should bode well for holders of STLC going forward:
Outlook
Due to the successful renewal of relevant fixed price sales contracts, and based on the current 2022 futures curve which implies an average hot-rolled coil steel index price of $925 per net ton for the remainder of the year, the Company would expect its 2022 average selling price to be approximately $1,225 per net ton.
In comparison, in 2021, when the hot-rolled coil steel index price averaged approximately $1,600 per net ton, the Company’s average selling price was $1,187 per net ton.
I know STLC was more a spot market price taker but was working, based on more recent comments by the CEO, on fixed term contracts. If CLF is able to secure better pricing for 2022 than they achieved in 2021, I'm hopeful that STLC can replicate something similar.
My original expectation was that nothing was going to rival the results of 2021 but I may be wrong, 2022 is looking promising everyone.
GLTA