ArcelorMittal : Des perspectives qui restent positives. Un retour de cash prudent et prévisible. Opinion Surperformance réitérée
>La demande reste solide malgré le retour de la pandémie - La consommation apparente d'acier dans les principaux marchés d'ArcelorMittal (AM) devrait augmenter de 4.5% à 5.5% en 2021 (contre -1.0% en 2020e). Rappelons que les fondamentaux positifs ont rendu possibles les hausses de prix aux Etats-Unis (>2x le point bas d’août 2020 à 1,300 $/t), au Brésil et en Europe (+80% à 715 €/t depuis le point pas d’août 2020). Le management confirme que 1/ la demande reste solid...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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