ArcelorMittal : Downtrend on prices despite some hopeful signs from China, target price cut to € 31 vs € 35
>Gloomy macro environment, newsflow more positive on China but still fragile - After a mixed H1 due to dashed hopes of a strong recovery in China and major incidents at two sites in Europe, H2 looks set to be relatively weak. Prices across the world are being driven down by the deterioration in the economic environment and the influx of Chinese imports, with the increase in local production following the post-Covid re-opening having not been met by domestic demand. T...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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