ArcelorMittal : Q2 earnings preview: one last exceptional quarter ahead of a period of sharp slowdown. Target price lowered to € 39 vs € 45
>Q2 set to be the last in a series of five exceptional quarters - Since Q1 2021, the group’s results have been underpinned by the recovery in demand post Covid and high prices historically due to supply tensions and the control of imports, particularly from Asia. Hot rolled coil (HRC) prices reached $ 1,250/t in Europe (+4% vs Q1) and $ 1,500/t in the US (+6% vs Q1) while they fell slightly in China (around $ 880/t or -3% vs Q1). Q1 2022 was only affected for a little...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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