ArcelorMittal : Plenty of promise going into the autumn. Buy rating maintained
>The upturn is taking hold and steel prices are firming up - The upturn in activity is tangible in all sectors, but particularly in the automotive sector (restart after an almost complete halt in April), although the pre-COVID-19 level has not been reached. The strength of demand in China (effective steel demand growth of 1% according to World Steel in 2020 vs -14% for the world ex China), which this year became a net steel importer, and the resumption of anti-polluti...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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