ArcelorMittal : Q4 2021 EBITDA will be solid. FCF generation also. Renegotiation of contracts underpins our expectations for 2022
>Management reiterates its optimistic view of the outlook - Management notes that the outlook remains positive and that underlying demand should continue to improve. Inventories are normalising and the backlog is expanding to Q1 2021 (Europe). Management reiterates its expectation that global apparent steel demand excl. China will grow at 12-13% but now expects demand from China to decline (sluggish real estate market). However, the impact on steel markets outside Chi...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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