Analyst SentimentNeutral rating given our cautious view on U.S. hot-rolled coil (HRC) amid the ongoing correction in lead times and an anticipated increase in supply.
Commodity PricingUS Hot Rolled Coil (HRC) prices have fallen significantly, which could indicate potential near-term challenges for the steel industry.
Earnings GuidanceFor Q1’24, CLF guided for a $60/short ton (st) increase in realized pricing, modestly below prior expectations.