|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||30.85 - 31.60|
|52-week range||19.59 - 37.50|
|PE ratio (TTM)||6.93|
|Earnings date||21 Feb 2017 - 27 Feb 2017|
|Forward dividend & yield||N/A (N/A)|
|1y target est||41.63|
ArcelorMittal (MT.AS), the world's largest steelmaker, said on Friday it was investing 75 million Bosnian marka ($47 million) to overhaul a blast furnace at its steel plant in Bosnia to extend its lifespan and improve environmental standards. Environmentalists have long complained about high levels of pollution caused by the plant in the central Bosnian town of Zenica, which has a workforce of 2,200 people and is Bosnia's top exporter. Work will start in coming days on what will be the biggest overhaul at the plant since 1989 and should extend the lifespan of the plant for another 15 to 20 years, Dijana Bozic-Srdanovic, the plant's spokeswoman, said.
As we discussed in the previous part of this series, Cleveland-Cliffs’ (CLF) CEO Lourenco Goncalves praised President Trump for implementing tariffs on steel imports, which were taking market share from domestic players. US steel imports rose 15% year-over-year (or YoY) to 38.1 million tons in 2017. The market share of imported steel in the United States reached 27.0% in 2017.
As we noted previously in this series, US spot steel prices are at multiyear high levels. Higher steel prices should support earnings of companies like AK Steel (AKS) and Steel Dynamics (STLD). U.S. Steel Corporation (X) has already upwardly revised its 2018 earnings guidance.
ArcelorMittal, the world's largest steelmaker, has offered to sell plants across Europe in an effort to address EU antitrust concerns over its 1.8 billion euro ($2.2 billion) bid for Italian peer Ilva. The offer of concessions was submitted on Thursday. No details were provided, in line with the European Commission's policy.
Earlier, we considered the various opportunities for U.S. Steel Corporation (X) in the wake of President Donald Trump’s recently announced tariffs on steel. The tariffs haven’t made US steel prices immune to global steel prices (MT). Following their implementation, US steel prices—already among the highest globally—could see more gains.
ArcelorMittal (MT) plans to repurchase shares worth $280 million starting Mar 13, 2018 till May 5, 2020 and the maximum number of shares acquired should be 7 million.
ArcelorMittal Dofasco's chief executive said on Tuesday the company was not seeking Canadian government aid as the domestic steel industry faces uncertainty after U.S. President Donald Trump provided temporary tariff relief on steel imports. Sean Donnelly, who heads Canada's largest steel manufacturer, added that the government must put resources in place to ensure cheap steel is not diverted to Canada after Trump decided last week to impose a 25 percent tariffs on steel imports.
China is the world’s largest steel exporter. In the last few years, higher Chinese steel exports have been global steel prices’ (MT) nemesis. Globally, steel associations have accused China of dumping their markets with cheap steel that’s allegedly subsidized by the Chinese government.
Luxembourg, 13 March, 2018 - ArcelorMittal announces a share buyback program under the authorization given by the annual general meeting of shareholders held on 5 May 2015 (the "Program"). The ...
Luxembourg, 12 March, 2018 - ArcelorMittal has published the statutory financial statements of ArcelorMittal parent company for the year ended December 31, 2017. These financial statements have been filed ...
Zacks.com highlights: Finish Line, ArcelorMittal, Universal Forest Products, Hitachi and Volkswagen
BEIJING (AP) — China's steel mills, a target of U.S. President Donald Trump's ire, are their industry's 800-pound gorilla: They supply half of world output, so every move they make has a global impact.
President Trump formalized a blanket tariff of 25% on all steel imports and 10% on all aluminum imports. Canada exports the most steel to the US. In the first 11 months of 2017, Canada accounted for 16% of the US steel imports (X) (AKS). Overall, 25% of the US steel imports (MT) came from NAFTA during the same period.
European stocks finished Friday's trading session on a positive note, following a better-than-expected jobs report from out of the U.S.
The automotive sector is the second-largest end steel consumer. ArcelorMittal (MT) is the leading steel supplier to the global automotive industry. Almost two-thirds of AK Steel’s (AKS) steel shipments are to the automotive sector.