ArcelorMittal (MT) - NYSE
  • Mon, Jul. 18, 5:35 PM
    • Top gainers, as of 5.25 p.m.: VMW +9.9%. IBM +2.4%. XNY +2.4%. EMC +1.9%. BRO +1.8%.
    • Top losers, as of 5.25p.m.: NFLX -14.1%. RWLK -6.3%. SAVE -5.9%. SPU -3.6%. MT -2.4%.
    | Mon, Jul. 18, 5:35 PM | 7 Comments
  • Tue, Jul. 12, 9:24 AM
    | Tue, Jul. 12, 9:24 AM
  • Mon, Jul. 11, 5:37 PM
    • Top gainers, as of 5.25 p.m.: ALNY +18.6%. STX +13.2%. IBN +11.8%. RRD +6.2%. AA +4.2%.
    • Top losers, as of 5.25p.m.: IMPV -10.9%. MT -8.2%. HAL -5.2%. NUS -5.0%. MPEL -3.4%.
    | Mon, Jul. 11, 5:37 PM | 4 Comments
  • Fri, Jun. 24, 2:11 PM
    | Fri, Jun. 24, 2:11 PM | 6 Comments
  • Fri, Jun. 24, 9:11 AM
    | Fri, Jun. 24, 9:11 AM | 18 Comments
  • Thu, Jun. 23, 9:16 AM
    | Thu, Jun. 23, 9:16 AM | 5 Comments
  • Wed, Jun. 22, 5:21 PM
    • The U.S. will slap duties of more than 500% on imports of certain steel products from China, the International Trade Commission rules after the U.S. Commerce Department recommended last month that heavy duties to be imposed on imports of cold-rolled steel products from China and Japan.
    • The anti-dumping case brought last year is one of three under consideration this summer and comes amid a growing dispute between the U.S. and China over steel.
    • Relevant tickers: X, AKS, NUE, MT, STLD
    | Wed, Jun. 22, 5:21 PM | 36 Comments
  • Fri, Jun. 17, 10:43 AM
    • ArcelorMittal (MT +4.1%) is looking to cut its French workforce by 10% through the sale of two subsidiaries, according to the Le Figaro newspaper.
    • The two units reportedly for sale are Solustil, which makes steel for car bodies, and WireSolutions, which makes fencing wire and nails.
    • Parts of Solustil may be acquired by affiliated Italian groups, while U.S. fund Oaktree Capital is a leading contender to buy WireSoultions, the report says.
    | Fri, Jun. 17, 10:43 AM
  • Wed, Jun. 15, 3:25 PM
    • Steel companies are surging after Nucor (NUE +2.1%) released better than expected guidance and Bank of America upgraded U.S. Steel (X +8.4%) to Neutral from Underperform with an $18 price target, raised from $10, citing more stable earnings and higher steel prices.
    • Nucor's upbeat commentary follows Steel Dynamics' (STLD +3.1%) upside Q2 guidance issued earlier this week, citing improved metals spread and shipments, and both of which follow May's U.S. Commerce Department ruling that it is imposing a 266% tariff on Chinese cold-rolled steel imports.
    • BofA now forecasts $673M in 2016 EBITDA for U.S. Steel vs. consensus forecasts of $424M, based on the higher prices.
    • The firm also praises U.S. Steel's ability to push out its debt maturities, although leverage remains steep with total debt at ~5x projected EBITDA.
    • Also: AKS +8.3%, CLF +3.7%, MT +4.1%.
    | Wed, Jun. 15, 3:25 PM | 8 Comments
  • Mon, Jun. 13, 9:19 AM
    | Mon, Jun. 13, 9:19 AM | 1 Comment
  • Wed, Jun. 8, 10:18 AM
    • AK Steel (AKS +10.5%) surges more than 10% as Credit Suisse upgrades shares to Outperform from Neutral with a $7 price target, doubled from $3.50, after the firm increases its U.S. steel price deck.
    • Credit Suisse says it remains "very bullish" on the U.S. steel industry, and its new supply/demand model for the U.S. flat rolled market indicates continued deficits for value add sheet into Q3, supporting prices well above fair value levels.
    • The firm raises its price targets on all steel stocks in its coverage universe except Commercial Metals (CMC +1.9%), owing to rebar spread risks.
    • Steel stocks (SLX +2.8%) are broadly higher in early trading: X +6.8%, MT +3.9%, STLD +3.8%, NUE +2.4%, WOR +1.5%, ZEUS +1.4%.
    | Wed, Jun. 8, 10:18 AM | 9 Comments
  • Mon, Jun. 6, 11:58 AM
    • Steel stocks (SLX +2.1%) are higher as U.S. Treasury Secretary Lew blames China for flooding low-cost steel into the U.S. and other markets.
    • Lew is urging China to cut excess steel production, as the two countries open high-level talks overshadowed by tension over the South China Sea.
    • "The Chinese government is... engaged in economic warfare against the U.S. and sadly, they are winning,” Nucor (NUE +0.3%) CEO John Ferriola says in a WSJ interview, adding that China two months ago set a new production record after spending two years promising to cut production.
    • Steel producers are mostly higher: X +2.9%, MT +2.1%, CLF +2.8%, AKS -1%, STLD +0.3%, RS +0.4%.
    | Mon, Jun. 6, 11:58 AM | 17 Comments
  • Fri, Jun. 3, 5:43 PM
    • ArcelorMittal (NYSE:MT) climbed 3.3% in today's trade following reports that the steelmaker is seeking support in its bid for the biggest steel plant in Europe.
    • Reuters reports that MT has asked Cassa Depositi e Presiti, Italy's state-run bank, to support its offer for the troubled Ilva steel plant, which was taken over by the government last year.
    • Earlier this week, the Italian government extended to June 30 the deadline for presentation of binding offers for the plant and said it would take four months to assess environmental aspects of the bids.
    • MT, along with its Italian partner Marcegaglia, is one of three bidders for the steel plant, the largest in Europe based on production capacity.
    | Fri, Jun. 3, 5:43 PM | 2 Comments
  • Thu, Jun. 2, 2:43 PM
    • ArcelorMittal (MT +3.5%) says it is suspending a major expansion of its Mont-Wright iron ore mine in Quebec that would have extended the mine's lifespan by 15 years to 2045, citing weak market conditions.
    • MT, which employs ~2.5K workers at the mine, says it informed the United Steelworkers union this week that it will not start expansion work in June as planned.
    • The company says its decision was based on the project cost, "fairly high" mine production costs, low iron ore prices and global competition.
    • Champion Iron (OTCPK:CHPRF), which will decide on a plan to restart its nearby Bloom Lake iron ore mine by year-end, believes it will benefit from the decision, saying that MT customers eventually will need to replace production and that the Quebec government will want to keep supporting development at Bloom Lake.
    | Thu, Jun. 2, 2:43 PM
  • Thu, Jun. 2, 10:35 AM
    • Iron ore has lost nearly all of 2016's gains, as ore with 62% content fell another 0.5% to $48.18/dry metric ton after posting the biggest monthly loss in about five years in May, which has left prices that topped $70 in April less than $5 above 2015’s year-end level.
    • Inventories at China’s ports rose to 100.65M tons last week, the highest since December 2014,and holdings have expanded for eight of the past nine months, just ahead of the period when steel demand usually sees a seasonal slowdown.
    • “Demand remains weak and supply is still increasing. There’s a good chance prices will end the year lower,” Shenhua Futures analyst Wu Zhili tells Bloomberg.
    • Relevant tickers: VALE, BHP, RIO, MT, CLF, TCK
    • Now read Goldman sees iron ore headed back to $35 as glut returns
    | Thu, Jun. 2, 10:35 AM | 10 Comments
  • Thu, May 26, 9:18 AM
    | Thu, May 26, 9:18 AM | 1 Comment
Company Description
ArcelorMittal SA is engaged in steelmaking and mining activities. It operates through the following segments: NAFTA, Europe, Brazil, ACIS and Mining. The company was founded on June 25, 2006 and is headquartered in Luxembourg.
Industry: Steel & Iron
Country: Luxembourg