ArcelorMittal SA logo

MTS - ArcelorMittal SA News Story

€25.21 0.8  3.1%

Last Trade - 16/04/21

Basic Materials
Large Cap
Market Cap £23.62bn
Enterprise Value £29.90bn
Revenue £38.52bn
Position in Universe 12th / 729

BUZZ-ArcelorMittal: Auto restocking to drive steel demand, BofA ups

Thu 17th September, 2020 11:49am
** BofA Global Research upgrades ArcelorMittal  MT.AS  to
"buy" from "neutral", looking past trough profitability to
improving shipments going into Q4 2020 and H1 2021
    ** With retail sales outperforming wholesale for five
months, broker expects auto makers, a key market for Arcelor, to
restock in Q4 and higher production to drive up steel volumes
    ** Restocking could tighten up steel supply demand
near-term, potentially giving steelmakers a little pricing power
for the first time in many months, it adds, easing raw
materials/steel demand spread pressures
    ** BofA also says European Q3 construction's been "less bad"
than feared, as projects seek to catch-up on COVID-19 delays,
with major infrastructure projects underway
    ** European PMIs are still positive and suggest further
economic recovery from here, which should support general steel
demand, adds broker
    ** Separately, Jefferies shares the view, saying leading
indicators are positive, auto demand is improving, while
near-term pricing risk is to the upside
    ** ArcelorMittal, the world's largest steelmaker, shares
rise 3% to end-March highs

 ((; +48 58 778 53 35;))
© Stockopedia 2021, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.