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MTS - ArcelorMittal SA News Story

€27.04 0.7  2.6%

Last Trade - 07/05/21

Sector
Basic Materials
Size
Large Cap
Market Cap £25.39bn
Enterprise Value £31.03bn
Revenue £39.09bn
Position in Universe 11th / 727

BUZZ-European steel: The recovery continues - Jefferies

Wed 14th April, 2021 7:02am
** According to Jefferies the recovery continues in the
European steel sector with Q1 EBITDA/t for carbon steel is
approaching the decade highs seen in Q2 2018
    **  Strong demand, very low inventories, and lack of
competitive imports continue to support Euro prices, says the
brokerage, and adds there is no sign this tight market will
soften in the near term with lead times firmly into Q3 2021
    ** Jefferies continues to prefer carbon relative to
stainless/OCTG, and names ArcelorMittal  MT.LU  its top pick
    ** It upgrades EBITDA estimates by 11% for the companies in
its coverage into Q1 earnings season
    ** An improved top-down and bottom-up outlook has driven
2021 consensus EBITDA for the Euro steel sector +38%
year-to-date, notes the brokerage 
    ** However, it believes there is more to go, particularly
for carbon, where estimates have increased +53%

 ((joanna.wodzicka@tr.com))
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