ArcelorMittal : Q2 2020 EBITDA provides a solid base for the rest of the year Buy rating reiterated
>Volumes as a driver in H2 2020 - ArcelorMittal’s management (AM) thinks that volumes will drive earnings in H2 2020 and sees a recovery in all sectors, particularly the automotive sector (restarting after an almost complete shutdown in April). ArcelorMittal intends to restart blast furnaces according to the level of demand (aims to maintain its market share). This resumption of production should result in the generation of fixed costs, but management anticipates that...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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