ArcelorMittal : Do not throw the baby out with the bathwater
>The supply/demand fundamentals are unchanged - In a recent Roadshow, ArcelorMittal (AM) noted that 1/ there has been no change to the positive demand trends observed in H1 2021. The automotive sector remains weak, but unfilled volumes continue to be redirected towards more profitable “spot price” sales. Management also points to 2/ inventory levels being less tight but still below the historical average, and 3/ order books extending well into Q4 2021 in Europe and th...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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