CLF reported Q4 results today with revenue coming in at $4.3 billion, which is basically flat compared to last year. They posted a net loss of $235 million for the quarter, or $0.44 per share. For the full year 2025, the total net loss was $1.4 billion. CEO Lourenco Goncalves said the rough year was due to weak production in the auto sector and an expiring contract that wasn't making money. He claims 2026 is set up to be better now that those issues are clearing up and the US trade environment is improving. On the strategic front, they are still doing due diligence for the partnership with POSCO. They are aiming to sign a definitive agreement in the first half of 2026.