Pretty sure they cut it to $.20 once a year. Perhaps, if things improve, they might increase it gradually. But doubt it will go back to prior levels.
MT closed some mills in Europe last year, US steel has announced recently they are closing a mill in Hamilton Ont.
Capacity destruction will be healthy for the sector.
Small chance of that. The world glut has an excess capacity of 30% and over production of 10%. The trouble is that no particular steel maker has the courage to cut back and close down his plant. Many countries have a strong interest in keeping the plant open. Besides some of MT's plants in Europe are obsolete and their steel is expensive compared to others.
Thanks to Wall St , MT made some very bad decisions when they went on a buying spree, It will take them more than a decade to climb out of the hole they are in.
News about coastal shores rising at an alarming rate hit all world media! Water gold steel etc.. think and be a survivor!
Sentiment: Strong Buy
Largey has an outperform rating on ArcelorMittal’s shares and a 14 euro price estimate. That’s an increase of 24 percent from yesterday’s 11.295 euro close in Amsterdam trading
How much is a ton of carbon fiber, is it workable like steel, will they have to change their infrastructure for carbon elements?
Has anyone been the following the FSV news in the automobile sector? I am new to the steel arena but very fascinated by the new steel changes that will be reflective in current vehicles but newer vehicles moving forward. These newer steel are reducing the weight of cars by hunderds of pounds in some cases. The U.S. government is seeking new fuel miles by 2017 to 2025 and these steel companies are about 2-3 years ahead of the schedule with the new lighter steels. Anythoughts are appreciated.