ArcelorMittal (MT) - NYSE
  • Feb. 5, 2013, 5:30 PM

    Notable earnings before Wednesday’s open: ABMD, AINV, CMI, CMP, CVH, CVS, ELN, GAS, ICE, IVR, MPEL, MRO, MT, NUS, PLD, RL, TWX, USG, VICL, VMED

    | Feb. 5, 2013, 5:30 PM
  • Jan. 29, 2013, 4:32 PM
    ArcelorMittal (MT) and Nippon Steel (NSSMY.PK), the world's two biggest steel makers, reportedly team up to bid ~$1.5B for ThyssenKrupp's (TYEKF.PK) Alabama plant. The two companies are jointly bidding to split the costs and give the Japanese firm access to MT's existing rolling steel slabs in Latin America. Nucor (NUE) also is said to be interested in the site.
    | Jan. 29, 2013, 4:32 PM
  • Jan. 24, 2013, 3:40 PM

    Weak demand prompts ArcelorMittal (MT -2.2%) to permanently close six production lines at a factory in Liège, Belgium, that make finished steel products for the auto industry, and a coke plant, where fuel for blast furnaces is produced. European steel demand is 29% below pre-financial crisis levels with no improvement seen over the medium term, MT says.

    | Jan. 24, 2013, 3:40 PM | 5 Comments
  • Jan. 16, 2013, 3:41 PM
    ArcelorMittal (MT) and Nucor (NUE) reportedly each bid $1.5B in separate offers for ThyssenKrupp's (TYEKF.PK) steel operations in Alabama, while Siderúrgica Nacional submitted a $3.8B bid for the Alabama plant and a majority stake in a Brazilian facility. ThyssenKrupp, which invested $11.8B in the two plants, is expected to update shareholders at its annual meeting Friday.
    | Jan. 16, 2013, 3:41 PM
  • Jan. 10, 2013, 8:12 AM

    ArcelorMittal (MT) +2.7% premarket after raising $4B in a stock and convertible note offering, despite its junk level credit rating, after expecting to raise $3.5B to pare down debt. "The major concern for Arcelor was the fact that they were struggling with their balance sheet... With this transaction, they remove [the] balance sheet issue totally," an analyst says.

    | Jan. 10, 2013, 8:12 AM
  • Jan. 9, 2013, 12:39 PM

    ArcelorMittal (MT -3.8%) has submitted a bid to ThyssenKrupp (TYEKF.PK) reflecting its interest in purchasing the German steelmaker's steel plant in Alabama, MT's CFO says. A successful bid would strengthen MT's presence in the U.S. automotive sector while stemming losses at Krupp, which suffered huge cost overruns and massive losses during the ramp-up of the Alabama plant.

    | Jan. 9, 2013, 12:39 PM
  • Jan. 9, 2013, 9:10 AM
    Premarket gainers: ROSG +18%. NUVA +14%. GPN +8%. CLWR +7%. SKUL +7%.
    Losers: APOL -8%. XTEX -6%. MT -5%.
    | Jan. 9, 2013, 9:10 AM
  • Jan. 9, 2013, 8:33 AM

    ArcelorMittal (MT) -5.1% premarket after announcing plans for a combined offering of common stock and mandatorily convertible subordinated notes to raise ~$3.5B; proceeds will be used to reduce debt. Also, the steel maker will restart one of its blast furnaces at its plant in Dunkerque, France, due to increased customer demand.

    | Jan. 9, 2013, 8:33 AM | 2 Comments
  • Jan. 2, 2013, 9:02 AM

    Markets like ArcelorMittal's (MT) agreement to sell a 15% stake in its Canadian iron ore unit to a consortium of Asian investors, believing it will help the steelmaker reduce its substantial debt. Macquarie says the deal's implied $7.3B valuation for the mining operations is “an excellent result” for MT, and could be a sign the company "believes the iron ore cycle is past its peak.” MT +2.2% premarket.

    | Jan. 2, 2013, 9:02 AM
  • Jan. 1, 2013, 7:22 AM

    Posco confirms that it is part of a group that has agreed to acquire a 15% stake in iron-ore company ArcelorMittal Mines Canada (MT) for $1.1B. Earlier today, it was reported that China Steel will invest $540M and Posco $270M, with the South Korean firm looking to bring in other potential investors. (Previously)

    | Jan. 1, 2013, 7:22 AM | 2 Comments
  • Jan. 1, 2013, 6:02 AM

    Posco (PKX) says it has agreed to acquire a stake in ArcelorMittal Mines Canada, although the South Korean company hasn't decided how big a holding it will buy or how much it will spend. Different reports said that Posco will purchase 15% for $1.1B, or that the firm will acquire the holding as part of a group that includes China Steel. In October, ArcelorMittal (MT) was reported to be considering selling 30% of the Canadian iron ore unit. (Previously)

    | Jan. 1, 2013, 6:02 AM | 3 Comments
  • Dec. 21, 2012, 8:03 AM

    ArcelorMittal (MT) takes a $4.3B writedown on the value of its struggling European division and says it sees little prospect for an improvement in the region's sluggish economy any time soon. MT says steel demand in Europe fell 8% this year and the cumulative demand decline over the past five years is 29%. MT -3.2% premarket.

    | Dec. 21, 2012, 8:03 AM | 1 Comment
  • Dec. 19, 2012, 3:13 PM

    BHP Billiton (BHP -0.3%) reportedly picks mining venture B&A Mineração as the preferred bidder for its stake in Mount Nimba, one of the largest iron ore deposits in Guinea. B&A, a relative newcomer founded by former Vale CEO Roger Agnelli, beat rivals such as ArcelorMittal (MT) for the deal estimated at $500M-$600M. Newmont Mining (NEM -0.9%) also owns a major stake in the project.

    | Dec. 19, 2012, 3:13 PM | 5 Comments
  • Dec. 14, 2012, 2:15 PM
    Steel stocks show solid gains following positive China PMI data; the steel sector often is the most responsive industry to Chinese PMI data. AKS +6.7%, X +6.4%, STLD +5.1%, CMC +3.4%, MT +3.2%, NUE +3%, CMC +2.8%, RS +2.6%, SCHN +2.4%. Iron ore and metallurgical coal stocks also benefit: CLF +4.6%, WLT +3.2%, RIO +3.2%, VALE +3.1%, BHP +1.3%.
    | Dec. 14, 2012, 2:15 PM
  • Dec. 13, 2012, 4:34 PM

    ArcelorMittal (MT) agrees to sell a 20% stake in Baffinland Iron Mines to a unit of Iron Ore Holdings (IRNHF.PK), which already owns a 30% stake, for an undisclosed price. Baffinland's ~$4B Mary River project in Canadian Arctic is considered one of the world's best undeveloped iron ore mines and is expected to produce 18M metric tons/year, but $5B-$7B could be needed to develop it.

    | Dec. 13, 2012, 4:34 PM
  • Dec. 13, 2012, 5:21 AM

    ArcelorMittal (MT) CEO Lakshmi Mittal confirms the company could be interested in acquiring ThyssenKrupp's (TYEKF.PK) steel plant in Alabama. Credit Suisse's Michael Shillaker reckons that buying the facility, likely to fetch $1B-1.5B, "could be a smart move," but probably would add to MT's high net debt. On France, where MT has had its problems, Mittal says it's still a "place we can do business" in.

    | Dec. 13, 2012, 5:21 AM
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