It is this 1.5 million-ton slab contract that gave me confidence, accounting for 10% of the annual production capacity. The picture shows the changes in the products after converting them into high-value products.

Yes, this is the contract details that my younger brother has been tracking. In terms of Cleveland Cliffs' own production capacity, the cost difference between raw materials and finished products may only be about ten points, but the price difference is double. The contract was effectively turned into a profitable deal by directly switching to finished products.$Cleveland Cliffs(CLF.US)

$Cleveland Cliffs(CLF.US) and ArcelorMittal's contract termination should refer to that loss-making contract with price inversion that was terminated on December 9, 2025. It's clearly a sign of performance reversal, but the market interpreted it as negative news due to reduced orders, which is irrational. Hope everything goes well and hang in there. But it was indeed a lesson for not taking profits properly.