ArcelorMittal : Continuing price increases. Cycle peak margins as early as 2021. Buy rating maintained
>ArcelorMittal Europe announces fresh steel price increase - ArcelorMittal Europe has raised the HRC price with a target of € 730/t having already increased it twice in December. The hot rolled coil (HRC) spot price is up almost 70% (vs early August) in Europe at around € 670/t, thanks to: 1/ solid order backlogs (lead times extending to April), 2/ lower import volumes (less attractive import prices), 3/ strong demand, particularly from the automotive segment, coupled...ArcelorMittal is a steel company, based in Luxembourg, with operations in more than 60 countries. Co. is active in all major global steel markets, including automotive, construction, household appliances and packaging, as well as activities in Research & Development and technology, with captive supplies of raw materials and its own distribution network. Co. has an industrial presence in over 20 countries spanning four continents, covering key steel markets, from emerging to mature. Co. offers a complete spectrum of steel products from commodity steel to value-added products, from long products to flat, from standard to specialty products, from carbon steel to stainless steel and alloys.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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