|Bid||27.030 x 700000|
|Ask||27.025 x 491800|
|Day's range||26.880 - 27.520|
|52-week range||17.890 - 30.770|
|PE ratio (TTM)||5.81|
|Forward dividend & yield||N/A (N/A)|
|1y target est||39.98|
LONDON/MUMBAI (Reuters) - India's biggest steelmaker JSW Steel (JSTL.NS) is expected to make a bid for ArcelorMittal's (MT.AS) Galati plant in Romania, three sources told Reuters, potentially competing against Ukraine's Metinvest and Italy's Marcegaglia. ArcelorMittal, the world's biggest steelmaker, has had to put six European assets up for sale to get approval from European competition authorities for its purchase of Italy's giant Ilva plant. Analysts at investment bank Jefferies estimate the combined value of the assets up for sale is $752-940 million and Galati, the country's biggest steel plant employing about 5,600 people, is the largest of those assets.
Solid earnings performance, upbeat outlook and the company's internal initiatives have contributed to a rally in ArcelorMittal's (MT) shares.
ArcelorMittal's (MT) latest move supports decarbonization of the transport sector and will enable it to revolutionize blast furnace carbon emissions capture.
According to a poll by Thomas Reuters on June 8, ArcelorMittal (MT) has received a “buy” or higher rating from 16 analysts. On June 7, UBS downgraded ArcelorMittal from a “buy” to “sell” and lowered the target price from 30 euros to 25 euros. Last month, ArcelorMittal received approval from the European Commission to acquire Ilva.
(MT.AE) said Monday that it has started construction on a €150 million ($176.5 million) installation at its site in Ghent, Belgium, that will convert carbon emissions into bioethanol. The steelmaker had previously said it would invest €87 million in the plant, which is being developed in partnership with Chicago-based carbon recycling specialist LanzaTech. LanzaTech’s technology uses microbes that feed on carbon monoxide produced by ArcelorMittal’s blast furnaces to create bioethanol that can be used as fuel or as a feedstock to manufacture plastics, the company said.
Smoke drifts across the ancient harbor in Taranto on Italy’s southern coast as fishermen sort their catch against brickwork stained black by decades of pollution. Across the bay, the chimneys of Europe’s biggest steel plant dominate the skyline as its furnaces dominate the local economy. Without the 1.8 billion-euro takeover by ArcelorMittal due to be completed June 30, the state-controlled plant will run out of cash by July, threatening the livelihoods of a quarter of the families in this city of 200,000.
The head of ArcelorMittal's (MT.AS) French division called on Friday for quotas and safeguards to protect the European steel industry, in light of the United States' decision to impose tariffs on steel and aluminium imports. The comments from ArcelorMittal executive Philippe Darmayan echoed similar views from other European steel executives, with Tata Steel's Dutch arm having also called on the European Union to shield the European market from cheap imports. "We would like safeguards to be put in place at the European borders, preferably as soon as possible, in order to stabilise the market....," Darmayan told France Info radio.
The head of ArcelorMittal's French division called on Friday for quotas and safeguards to protect the European steel industry, in light of the United States' decision to impose tariffs on steel and aluminum imports. The comments from ArcelorMittal executive Philippe Darmayan echoed similar views from other European steel executives, with Tata Steel's Dutch arm having also called on the European Union to shield the European market from cheap imports. "We would like safeguards to be put in place at the European borders, preferably as soon as possible, in order to stabilize the market....," Darmayan told France Info radio.
ArcelorMittal’s South African unit agreed to sell its half of steel trader and shipper Macsteel International Holdings BV to a company founded by South African steel billionaire Eric Samson, which owns the other 50 percent. Macsteel Holdings Luxembourg SARL will pay $220 million for the stake, ArcelorMittal South Africa Ltd. said in a statement Monday.
Steel production at Ukraine's largest steel mill, owned by ArcelorMittal, is returning to normal levels after the conclusion of a strike by workers in its railway division, the mill said on Monday. On Thursday, the Kryvyi Rih mill in central Ukraine said the protest linked in part to salary demands had disrupted steelmaking and rolling and paralysed the plant's operations. After a four-day strike, railway workers have resumed their shifts, ArcelorMittal Kryvyi Rih said in a statement.
KIEV (Reuters) - Steelmaking and rolling at Ukraine's largest steel mill, owned by ArcelorMittal (MT.AS), have been completely stopped due to a strike by workers in its railway division, the mill said ...
FRANKFURT/DUESSELDORF (Reuters) - Thyssenkrupp (TKAG.DE) cut the profit margin forecast for its capital goods business on Tuesday, the future heart of the German company after its planned retreat from steel. The set-back, which covers the group's elevators, car parts and plants units, is a blow for CEO Heinrich Hiesinger, who has been striving to sharpen the sprawling company's focus on technology and reduce its exposure to the volatile steel sector. Thyssenkrupp shares fell as much as 5.4 percent, with traders and analysts pointing to a 22 percent decline in new orders at the capital goods business in the second quarter.