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SRL - Cleveland-Cliffs: Super Cheap If Iron Ore Holds Up
Scully Royalty Ltd.
I received a few questions related to iron ore lately. Iron ore has been tanking. Here's one (emphasis mine):
Wondering why steel, iron ore and CLF are tanking since Aug 1 with technicals suggesting for CLF for example that in spite of CLF's earnings and sound US based strategy that it may go all the way back below 7. Is this harbinger of even bigger and broader market downdraft coming and is CLF CEO view of $120 Iron Ore new normal completely wrong? What is going on?