Steel has a much higher revenue base, CLF enjoys a better valuation multiple (P/S and P/E) due to much better revenue growth, lower debt position, and vertically integrated business. However, Cleveland-Cliffs is more vertically integrated as it mines iron ore and pellet which is used in its steel production. Steel a better stock pick compared to Cleveland-Cliffs? Both companies are large steel makers. On the other hand, shares of Cleveland-Cliffs (NYSE: CLF) are trading at $21 per share, 3x its pre-Covid level. The shares of United States Steel Corp (NYSE: X) currently trade at $23 per share, which is 2.5x its pre-Covid level. (Photo Illustration by Rafael Henrique/SOPA Images/LightRocket via Getty Images) SOPA Images/LightRocket via Getty Images
#S AND S STEEL SERIES#
This first concept machine, produced at Volvo CE’s facility in Braås, is just the start, with smaller-scale series production planned by 2022, and mass production set to follow.BRAZIL - 5: In this photo illustration the United States Steel Corporation (USS) logo seen. We look forward to continuing to work with Volvo Group in research and development to produce more fossil-free steel products.”Ī move toward green steel is an important step for Volvo Group, as well as for the transport and infrastructure industries as a whole, particularly considering that around 70% of a truck’s weight comes from steel and cast iron, with the figure for Volvo machines even higher. “Together, we will continue reducing climate impact all the way to the end customer while ensuring that our customers get high-quality steel. Our collaboration with Volvo Group shows that green transition is possible and brings results,” says Martin Lindqvist, President and CEO at SSAB. “Having the world´s first actual vehicle made using SSAB´s fossil-free steel is a true milestone. Along with the electrification of its vehicles and machines, Volvo is determined to reduce the carbon footprint of its entire supply chain and this latest innovation is one step forward on this path. With a commitment to be climate-neutral and achieve net zero value chain greenhouse gas emissions by 2040, Volvo Group is on the path towards developing sustainable transport and infrastructure solutions of the future. Volvo Group is committed to pioneering partnerships such as this with SSAB to develop attractive, safe and efficient new vehicles and machines that pave the way for a more sustainable transport and infrastructure system adopted for the future,” says Martin Lundstedt, President and CEO Volvo Group.
#S AND S STEEL FREE#
Just as the nations of the world come together at COP26 to address climate change, so too must organizations and industries work in collaboration to develop innovative new solutions for a greenhouse gas emission free future. “This initiative with SSAB sets the benchmark for a fossil-free future. Our team in Braås is understandably proud to help make this innovation happen.” Not only for our generation, but for generations to come. This machine is proof that we really can make fast progress, when we work together in strong partnerships, when we are determined to act and we enable our skilled people to contribute to building the world we want to live in. Melker Jernberg says: “Our ambition is to have fossil-free steel used across all our products, with a step-by-step approach. EU commissioner for internal market, Thierry Breton, and the Swedish minister of enterprise and innovation, Ibrahim Baylan, joined the event together with Martin Lindqvist, CEO SSAB and other speakers. In addition, insights about yet another ground-breaking sustainable steel collaboration were shared. During the premiere, which was broadcasted online and is available to watch here, attendees got to see the world’s first machine made of fossil-free steel. The machine, a load carrier for use in mining and quarrying, was unveiled at a green steel collaboration event today, October 13, in Gothenburg hosted by Melker Jernberg, President of Volvo CE, and Martin Lundstedt, President and CEO Volvo Group.
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