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ArcelorMittal sees its future in China in downstream as new plant opens

Jun. 16, 2014 3:28 PM ETArcelorMittal S.A. (MT) StockMTBy: Carl Surran, SA News Editor1 Comment
  • ArcelorMittal (MT -0.8%) sees its path forward in China through downstream products, as it prepares today to open a new automotive steel plant there that promises higher margins on one of the few types of steel not in oversupply in the country, FT reports.
  • China currently imports 1.5M-2M metric tons/year of automotive steel to meet a market growing by ~10%/year, and the expected output of ~1.5M metric tons/year at the new Loudi mill aims to displace most of those imports.

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