16.27 +0.18 (1.12%)
Pre-Market: 5:07AM EDT
|Bid||16.10 x 4000|
|Ask||16.14 x 2200|
|Day's Range||15.91 - 16.18|
|52 Week Range||15.91 - 35.53|
|Beta (3Y Monthly)||1.90|
|PE Ratio (TTM)||3.76|
|Earnings Date||Feb 21, 2017 - Feb 27, 2017|
|Forward Dividend & Yield||0.20 (0.98%)|
|1y Target Est||32.12|
The U.S. and Canada on Friday said they have reached a deal where the U.S. will end tariffs imposed under Section 232 on imports of aluminum and steel products from Canada, while Canada will remove all tariffs imposed in retaliation. The two sides will take the step in two days and terminate World Trade Organization litigation. The two sides say they will take measures to prevent the importation of aluminum and steel that is unfairly subsidized and/or sold at dumped prices; and prevent the transshipment of aluminum and steel made outside of Canada or the United States to the other country.
Steel maker stocks dropped in midday trade Friday, after The Wall Street Journal reported that U.S. trade negotiators were close to a deal with Canada and Mexico to end tariffs on steel imports. Shares of U.S. Steel Corp. fell 2.7%, Nucor Corp. shed 3.6%, Steel Dynamics Inc. gave up 2.9% and ArcelorMittal slid 3.4%. Meanwhile, the S&P 500 was down just 0.2%. Among aluminum companies, Alcoa Corp.'s stock fell 1.7% and Kaiser Aluminum Corp. declined 1.5%. The WSJ reported, citing sources, that U.S. trade negotiators were trying to reach a deal on tariffs with Canada and Mexico to "push USMCA through Congress."
Friedland is in advanced talks with BHP, Newmont Goldcorp Corp. and Areva SA, that will see him move to develop the Nimba deposit on Guinea’s border with Liberia, said the people, who asked not to be identified as the talks are private. Mick Davis, who is seeking to develop a neighboring iron ore mine through his Niron Metals vehicle, is also interested in the project, according to people familiar with the situation. Friedland also declined to comment.
Key Investor Takeaways from ArcelorMittal’s Q1 EarningsArcelorMittal’s Q1 earningsToday, ArcelorMittal (MT), the leading steel producer globally, released its first-quarter earnings. It posted revenues of $19.2 billion in the quarter as compared
ArcelorMittal, which posted its lowest quarterly profit since 2016, warned Thursday that the European steel market will be far weaker than expected this year as demand contracts and producers struggle against cheap imports. The world’s biggest steelmaker also lowered its forecast for demand outside of China. The gloom spreading through the steel industry marks a sharp reversal after two years of bumper profits, driven by strong demand across all major markets and slowing exports from China.
ArcelorMittal, the world's largest steelmaker, cut its forecast for demand in its main market Europe on Thursday after lower steel prices depressed earnings at the start of the year. The Luxembourg-based company, which makes about 6 percent of the world's steel, announced on Monday it was temporarily reducing European steel output by 3 million tonnes on an annualised basis due to weak demand and increased imports. "Our first quarter results reflect the challenging operating environment the industry has faced in recent months," Chief Executive Officer Lakshmi Mittal said in a statement.
The world’s biggest steelmaker reported its smallest quarterly profit since 2016 and warned that global demand outside of China will be lower than previously expected as the industry faces increasing pressure.ArcelorMittal posted first-quarter earnings before interest, taxes, depreciation and amortization of $1.65 billion, missing the average analyst estimate. Key Insights:ArcelorMittal now sees global demand outside of China rising 1%-2% and the company is forecasting a contraction of up to 1% in Europe. China is seen as a rare bright spot, with the biggest consumer now expected to use more steel this year due to economic stimulus and real-estate demand.
Lower steel prices and rising raw materials costs have caused a one-third drop in quarterly earnings at the world’s largest steel producer ArcelorMittal. Its earnings before interest, tax, depreciation and amortisation were $1.65bn in the first three months of this year, down 34.2 per cent on the same period a year before and slightly below analyst forecasts. “Our first-quarter results reflect the challenging operating environment the industry has faced in recent months,” said chief executive Lakshmi Mittal.
Luxembourg, May 9, 2019 - ArcelorMittal (referred to as “ArcelorMittal” or the “Company”) (MT (New York, Amsterdam, Paris, Luxembourg), MTS (Madrid)), the world’s leading.
US president Donald Trump harrumphs on Twitter. European steel companies take a bashing. A 10 per cent fall in ArcelorMittal’s share price this week reflects geopolitical jitters as much as weak first-quarter ...
China’s April Trade Data: Outlook for Metal Investors(Continued from Prior Part)Steel exportsOn May 8, China released its trade data for April. The country exported 6.33 million metric tons of steel in April—similar to March. However, the
Poland's JSW, the European Union's biggest coking coal producer, does not expect coal orders from major client ArcelorMittal to fall following the steelmaker's decision to halt operations at its blast furnace and steel plant in Krakow. ArcelorMittal Poland said on Monday it plans to temporarily stop production its furnace and steel plant in southern Poland in September, citing rising carbon emission costs and surging power prices.
Central European currencies and stocks eased on Tuesday after the European Commission cut its forecasts for growth in the euro zone. An escalation in trade tensions between the United States and China ...
7 May 2019, 14:45 CET - The Annual General Meeting of shareholders of ArcelorMittal held today in Luxembourg approved all resolutions by a strong majority. 69.77% of the voting rights were represented at the general meeting. The results of the votes will be posted shortly on www.arcelormittal.com under "Investors Equity Investors Shareholders’ meetings Annual General Meeting of shareholders, 7 May 2019" where the full documentation regarding the general meeting is available.
ArcelorMittal Poland said on Monday it planned to halt its blast furnace and steel plant in Krakow in September, due to rising carbon emission costs and surging power prices. ArcelorMittal did not say how long the shutdown would last at the Krakow furnace, which is in southern Poland.
ArcelorMittal today announces its intention to temporarily idle production at its steelmaking facilities in Kraków, Poland and reduce production in Asturias, Spain. In Kraków, the primary production (blast furnace and steel plant) will be temporarily idled.
India is the world's largest democracy and its economy has been growing rapidly over the past few decades. As a country, it also holds the second largest native population behind China. Not surprisingly, India has produced a number of billionaire businessmen and women.
How Cleveland-Cliffs Is Looking after Its Q1 2019 Results(Continued from Prior Part)HBI plantAfter Cleveland-Cliffs’ (CLF) debt repayment concerns were taken care of, the company started refocusing on growth. It is currently building an HBI