Eurobench.com

[verwijderd] 4 maart 2016 09:30

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4 March 2016 - On February 5, 2016, ArcelorMittal announced a proposed capital raise by way of a rights offering where its existing shareholders are granted preferential rights to subscribe for ArcelorMittal ordinary shares. It expects to issue a number of new ordinary shares in the rights offering that will allow it to raise the euro equivalent of approximately U.S.$3 billion[1]. An extraordinary general shareholders meeting has been called for March 10, 2016 to consider, among other things, the increase in ArcelorMittal’s authorized share capital necessary to permit the launch of the proposed rights offering. The launch of the rights offering is also subject to the approval of the European securities prospectus by the Luxembourg supervisory authority for the financial sector (Commission de Surveillance du Secteur Financier – CSSF) as well as market and other conditions.

The record date for ArcelorMittal shares is expected to be on March 14, 2016 at the close of business on each applicable market where the shares are traded. Each record holder of ArcelorMittal shares will be allocated one right per existing ArcelorMittal share held as of such record date.

Further details on the terms of the rights offering and the procedures pursuant to which eligible holders can exercise their rights will be announced at the time of the commencement of the rights offering.

For readers in the European Economic Area
This press release does not constitute an offer to sell, or the solicitation of an offer to buy or subscribe for, any securities of ArcelorMittal within the meaning of Luxembourg law and/or the laws of any other member state of the European Economic Area. This press release does not constitute a prospectus within the meaning of EC Directive 2003/71/EC of the European Parliament and of the Council dated 4 November 2003, as amended (the “Prospectus Directive”), which expression includes any relevant implementing measure in the member state concerned, and should not be the basis for any agreement or decision to invest. ArcelorMittal has not made any final decision whether to proceed with any offering of securities or to admit new securities to trading on a regulated market. Any such offering or new admission will be based exclusively on a prospectus prepared for that purpose. Further, ArcelorMittal has not authorized any offer to the public of securities in any member state of the European Economic Area that has implemented the Prospectus Directive, other than Luxembourg, the Netherlands, France and Spain, (each, a “Relevant Member State”). With respect to each Relevant Member State, no action has been undertaken or will be undertaken to make an offer to the public of securities requiring publication of a prospectus in any Relevant Member State. Should an offering or new admission of subscription rights and new shares be conducted, as is currently planned, in Luxembourg, the Netherlands, France and Spain, a securities prospectus will be produced, which is to be published following its approval by the Luxembourg supervisory authority for the financial sector (Commission de Surveillance du Secteur Financier – CSSF) after it has been passported into the Netherlands, France and Spain subsequent to notification having been given to the competent regulatory authorities in those jurisdictions. Any decision to purchase, subscribe for or otherwise acquire any subscription rights or new shares of ArcelorMittal must be made only on the basis of the information in a securities prospectus (if published in due course by ArcelorMittal), which will then be available for download on the internet site of ArcelorMittal (corporate.arcelormittal.com). Copies of the prospectus will then also be readily available upon request and free of charge at 24-26, boulevard d’Avranches, L-1160 Luxembourg, Grand-Duchy of Luxembourg.

In each Relevant Member State this communication is only addressed to, and directed at, qualified investors in that Relevant Member State within the meaning of the Prospectus Directive.

This press release contains regulated information within the meaning of the Transparency Directive 2004/109/EC and implementing laws and regulations, which must be made publicly available pursuant to Luxembourg law.

This press release contains advertising materials in connection with the Offer as referred to in the Market Abuse Directive 2003/6/EC and implementing laws and regulations.

For readers in the United Kingdom
This press release is only being distributed to, and is only directed at, (i) persons who are outside the United Kingdom or (ii) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) or (iii) high net worth companies, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as “relevant persons”). The subscription rights and new shares are only available to, and any invitation, offer or agreement to subscribe for, purchase or otherwise acquire such subscription rights or new shares will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.

For readers in the United States
ArcelorMittal has filed a registration statement (including a prospectus) with the United States Securities and Exchange Commission (the “SEC”) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement, the supplement to that prospectus ArcelorMittal expects to file with the SEC and other documents ArcelorMittal has filed and will file with the SEC for more complete information about ArcelorMittal and this offering. You may get these documents, once filed, free of charge by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, to request a copy of the prospectus after filing, please contact Georgeson Inc., ArcelorMittal’s U.S. information agent, at 866-277-8239 or by writing to Georgeson Inc. at 480 Washington Blvd, 26th Floor, Jersey City NJ 07310.

_____________________________

[1]As the subscription price will be denominated in euros, the capital increase amount will correspond to the euro equivalent of U.S.$3 billion upon the rights offering launch. The actual amount of the capital increase in U.S. dollars will depend on the euro-U.S. dollar exchange rate at closing.

For more information about ArcelorMittal please visit: corporate.arcelormittal.com/

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voda 4 maart 2016 16:34

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Scunthorpe steel union leader calls for real action after US tariffs on British steel

Scunthorpe Telegraph reported that Mr Roy Rickhuss, secretary of the Scunthorpe’s main steel union Community, called for the UK to impose similar protective measures as adopted by US government.

Mr Rickhuss said: “At every opportunity Mr Javid says he supports a level playing field for UK steel producers, but his government continues to block moves to scrap the Lesser Duty Rule which stops the European Commission imposing meaningful tariffs to prevent Chinese dumping.

“Last night the US announced enormous new tariffs of 266 per cent on Chinese steel, reflecting the actual margin of dumping, contrasting starkly with the measly 16% tariff Europe introduced last month constrained by the Lesser Duty Rule.

“This enormous difference demonstrates that the global market is not free or fair, and unless the Secretary of State is prepared to join others in Europe and stand up for our industry soon the debate will be over as we will have no industry left to save. We are drowning in this flood of Chinese imports and the US action will only serve to divert more Chinese steel towards Europe.

“Yesterday the US also announced it was targeting UK producers introducing penalties of up to 31%. Today I will be asking the Secretary of State how he intends to respond as yet another market is closed off to UK producers already fighting for survival.”

“Today’s meeting of the steel council will bring together high-level representatives of employers, unions and the government to review the work that has been undertaken since the government’s steel summit last October.”

Source : Scunthorpe Telegraph

voda 4 maart 2016 16:36

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Zaporizhstal - Production Results for February 2016

In February, 2016, they noted a growth of iron production for 5.8%, steel – for 9.8%, rolled stock – for 7% in comparison with the same period of 2015. In February, 2016, they produced 295.0 thousand tons of iron, 323.3 thousand tons of steel, 283.3 thousand tons of rolled steel. Growth of production in February in comparison with the same period of last year is stipulated by calendar duration of February in 2016 (one day longer).

Source : Strategic Research Institute

Bijlage:

voda 4 maart 2016 16:36

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Essar steel wins bid for Ghoraburhani- Sagasahi iron ore mine in Odisha

India Infoline News Service reported that the government auctioned first iron ore mine, Ghoraburhani- Sagasahi in Odisha, on Wednesday that has a reserve of 99.59 million tonnes of iron ore. Essar Steel has emerged as the winner at iron ore mine auction with a bid that was at a premium of 44.35% over the royalty.

The government has so far auctioned six mines (gold, limestone and iron ore) in Odisha, Chhattisgarh and Jharkhand, a move that will get state governments Rs 18,107 crore in revenue over the next 50 year.

Source : India Infoline News Service

voda 4 maart 2016 16:37

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LCCI calls for rehabilitation of steel melting industry in Lahore

The Nation reported that the Lahore Chamber of Commerce & Industry has urged the government to focus on the rehabilitation of Steel Melting Industry that is in deep trouble because of General Sales Tax on electricity bills and various other issues.

While talking to a group of Steel Melters Association, president of the Lahore Chamber of Commerce & Industry Sheikh Muhammad Arshad said that the General Sales Tax on the electricity bills of Steel Melters should be reduced to four rupees from existing nine rupees which is very high and one of the biggest reasons of high input cost of the Steel Melting Industry.

The delegation informed the LCCI office-bearers that the steel melting sector has a production capacity of 7.5 million tonnes which has been reduced to 3.5 million tonnes, mainly because of import of finished and semi-finished steel products. The local industry produces iron billets, girder, angle and other products thus generating a substantial amount of revenue to the national exchequer.

Yet, they agreed that the Federal Board of Revenue in 2007 had taken all stakeholders including steel melters, steel re-rollers, ship breakers, and Pakistan Steel Mills into confidence and evolved the Special Procedure 2007 which it resolved that the general sales tax at the rate of Rs 4.75 per unit would be levied on electricity bills, which was later enhanced to Rs 9 per unit in the federal budget 2015-16. At that time, the raw material-shredded steel scrap was $350 to $360 per tonne that has been declined to $190 to $200 per tonne.

The LCCI office-bearers said that concerned authorities should keep in view the ground realities and solve the issues of Steel Melting Industry at the earliest.

Source : The Nation

voda 4 maart 2016 16:40

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ArcelorMittal accused of polluting Pt Lisas port

Published on Fri, 04 Mar 2016

Trinidad and Tobago’s The News Day reported that in midst of dwindling finances, Point Lisas-based multinational steel producer ArcelorMittal is facing a lawsuit for allegedly polluting the Point Lisas port, its landlord PLIPDECO’s premises, and its neighbours with corrosive red dust.

Lawyers representing PLIPDECO said that their client was forced to take legal action against Arcelor/Mittal (Trinidad) Limited after no less than 70 letters of protest written, were allegedly ignored.

PLIPDECO is claiming Arcelor/ Mittal breached its 30-year lease by failing to adhere to the environmental covenants contained in the lease agreement, and is seeking injunctive relief, as well as indemnification for losses for continuing nuisance and damage caused by the emission of corrosive dust emanating from the steel producer’s plant.

According to PLIPDECO’s lead counsel, Deborah Peake SC, it was a troubling case.

In her opening address, photographs were used to illustrate the complaint of dust particles affecting the Point Lisas’ port operations, and its workers.

She also referred to complaints from captains of vessels which call at the port.

Peake accused Arcelor/Mittal of consistently breaching the environmental covenants of its lease.

At the trial, PLIPDECO’s lawyers will also call its experts to testify to the alleged high levels of dust particles emanating from Arcelor/Mittal’s operations.

Source : The News Day

Bijlage:

voda 4 maart 2016 16:42

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Vietnam struggles with incomplete steel complex in wake of shipbuilding scandal

Thanh Nien News reported that three years after state-owned shipbuilding giant Vinashin was restructured amid corruption scandals, Vietnam's government still struggles to deal with a string of its dormant projects around the country. In the latest case, the Ministry of Transport has asked the government to order "suitable" businesses under the Ministry of Industry and Trade to take over a complex of steel mill and power plant in the northern province of Quang Ninh.

The move came after Vinashin, or Shipbuilding Industry Corporation (SBIC) as it is now known, attempted in vain to resurrect the Cai Lan complex. The project has cost over VND2.43 trillion (US$107.08 million).

Since a short test run in 2010, the steel plant, with a designed capacity of 500,000 tons, has been left inactive. About 95 percent of construction work has been completed. The project's 39-MW power plant was completed in 2007. It was halted in 2009 also due to financial trouble, after managing to sell some of its output to Electricity of Vietnam.

Hoang Viet Van, director of Cai Lan, told Thanh Nien that after failing to strike a deal with foreign and local companies in operating the complex, SBIC tried to sell it but no one was interested.

Vinashin was restructured in October 2013, about one year after nine executives were jailed for mishandling five business deals that caused losses of over VND980 billion (US$43.52 million).

Vietnamese authorities are still investigating into even more wrongdoings at Vinashin, which had piled up debts of $4.5 billion by 2010.

Source : Thanh Nien News

gpjf 4 maart 2016 16:43

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Voda , misschien een stomme vraag en hij is niet verkeerd bedoeld maar lees jij al die artikelen die je hier plaatst want dan heb je zoal wat te doen en maken ze je in ieder geval niks wijs over dit segment

nescio 4 maart 2016 16:46

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ik denk dat voda er wat google alert woordjes van staal, steal, arcelor, etc etc open heeft staan. en alles wat gerelateerd is,plaatst ie door.Ik vind het soms ook wel heel veel tekst om allemaal te lezen, daarentegen waardeer ik wel dat ie voor ons "forum genoten" a die moeite doet.

voda 4 maart 2016 16:50

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quote:
gpjf schreef op 4 maart 2016 16:43:
Voda , misschien een stomme vraag en hij is niet verkeerd bedoeld maar lees jij al die artikelen die je hier plaatst want dan heb je zoal wat te doen en maken ze je in ieder geval niks wijs over dit segment

Het gros van de artikelen lees ik zeer vluchtig door, soms enkele zinnen, en plaats het dan. Ik moet natuurlijk wel weten of het zin heeft om te plaatsen. Later op de avond neem ik de tijd om alles rustig terug te lezen.

voda 4 maart 2016 16:53

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Deliveries of cold rolled steel to US are not strategic for Russia - NLMK

TASS reported that the deliveries of cold-rolled steel to the US are not strategic for Russia, a representative with the press service of Russian steelmaker NLMK told TASS on Wednesday after US Department of Commerce imposed preliminary duties on imports of cold-rolled steel, used to make auto parts, appliances and shipping containers, from seven countries, including Russia. The US authorities set the duty for products by Russian company Severstal at 12.62% and for NLMK at 16.89%. For all other Russian producers and exporters of cold-rolled steel from Russia the duty was set at 14.76%.

On Wednesday, a representative of Severstal told TASS that the company strongly disagrees with the calculation of duties. He said "We do not agree with the calculation of duties. Severstal supplies its products in full compliance with international trade rules. It should be noted that these are preliminary steps, we continue to participate in the investigation. We hope that the final decision will be based on objective data.”

The representative of Severstal did not specify the total volume of cold-rolled steel supplied to the US market. But a source close to the company told TASS that the volume supplied by Severstal to the US in 2015 was about 40,000 tonnes.

The press-service of NLMK did not comment on the US decision to impose provisional duties on cold rolled steel exports. He said "First it is necessary to get acquainted with their arguments. At the same time, we should note that the US market of cold-rolled steel is not strategic for exports of NLMK from Russia, and potentially NLMK USA enterprises (the group’s enterprises in the US) may benefit from the restrictions, if the introduction of duties leads to reduction of imports from other countries into the market.”

At the end of 2014, imports of cold-rolled steel from Russia to the US amounted to 81,000 tonnes or $54.6 million

Source : TASS

voda 4 maart 2016 16:54

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Commerce Ministry extends SEZ projects of Tata Steel and Saraf Agencies

Business Standar reported that the Board of Approvals under Union Commerce & Industry Ministry has extended the validity of Special Economic Zones (SEZs) proposed by Tata Steel and Saraf Agencies, both in south Odisha. The BoA has agreed to extend the formal approval of Gopalpur SEZ up to December 17, 2016.

The resident commissioner (Odisha) clarified to the BoA that the state government had already registered 500 hectares in favour of the SEZ, and it is committed to register the balance 673 hectares. The BoA has instructed the development commissioner, Falta SEZ, to coordinate with the state government in this regard. The BoA also agreed to process the notification for 500 hectares already registered in favour of the SEZ.

Tata Steel is the anchor tenant for the multi-product SEZ coming up at Gopalpur in south Odisha. The Gopalpur SEZ has the potential to attract investments of the order of Rs 15,000 crore. Investments are expected to flow in areas like defence, electronics, LEDs (light emitting diodes) and solar cells. Tata Steel has roped in Ernst & Young as the consultant for the project while Singapore-based Jurong has been engaged for designing the master plan. As an anchor tenant, Tata Steel is developing 55,000 tonne per annum ferro chrome plant at an estimated cost of Rs 541 crore. The plant is scheduled to be commissioned by December this year.

Apart from Tata Steel's multi product SEZ, the BoA in its recent meeting also extended the validity of the formal approval granted to Sarag Agencies for setting up of a sector specific SEZ at Chhatrapur, in Ganjam district. Saraf Agencies is investing Rs 1,200 crore on a titanium dioxide plant at Chhatrapur. In the first phase, the company will produce 10,000 tonne per annum (tpa) of high titanium slag and 6,000 tpa of high purity pig iron.

Source : Business Standard

voda 4 maart 2016 16:55

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EU ends anti dumping probe on import of silicomanganese from India

Bloomberg reported that the European Union has ended a threat to impose tariffs on a ferroalloy from India, the latest in a series of trade measures favouring steel producers in Europe. The European Commission closed a probe into whether Indian exporters of silicomanganese sold it in the 28-nation bloc below cost, a practice known as dumping. The commission said that while some imports from India were dumped, they weren’t necessarily the cause of “material injury” suffered by the European silicomanganese industry.

It said “Hardly any undercutting was found. A causal link between the dumped imports and the injurious situation of the union industry could not be established.”

Indian exporters including Modern India Con-Cast Ltd. and Indsil Hydro Power and Manganese Ltd. have a combined 23% to 30% of the EU silicomanganese market, said the commission. The other major foreign suppliers of silicomanganese to the EU are Norway, Ukraine and South Africa, according to the commission.

The probe covering silicomanganese from India was opened in December 2014 and stemmed from a dumping complaint by an association called Euroalliages on behalf of three EU silicomanganese manufacturers. In such investigations, the commission has nine months to decide whether to introduce provisional anti-dumping duties and 15 months to decide on any “definitive” five-year levies. In this case, no provisional measures were introduced.

Source : Bloomberg

voda 4 maart 2016 16:56

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Voestalpine hopes for big order of steel plates for Nord Stream 2 of Gazprom
Reuters reported that Austria's Voestalpine is hoping for a big order from a Gazprom-led pipeline project designed to boost Russian natural gas supplies to Europe, the specialty steel group said on Thursday.

Voestalpine confirmed a report by Austrian weekly Trend that it hopes for an order of a similar size to the 170,000 tonnes of heavy plate it delivered for Nord Stream 1. Market experts estimate the current value of such an order at around 90 million euros ($98 million). This time Voestalpine may deliver even more than 200,000 tonnes, Chief Executive Wolfgang Eder said, adding that a decision could be made as early as this month.

He hwoever said "As long as the contracts are not signed, there certainly remains a political risk. Therefore it is too early to tell when construction will start."

Gazprom agreed in June with Royal Dutch Shell and its long-time gas buyers in , Germany's E.ON and Austria's OMV, to build the Nord Stream 2 pipeline, which is planned to come online in 2019. The European Commission has not approved the project yet and is still examining whether it complies with EU law. Many eastern European countries and the United States have criticised the pipeline plan, saying over-reliance on Russia is a threat to the European Union's energy security.

Source : Reuters

voda 4 maart 2016 17:01

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CSC to capitalize on tariffs on China by boosting CR exports to US

Taipei Times reported that Taiwanese steel giant China Steel could benefit from a US ruling that imposed a 265.79% anti-dumping duty and 545.79% anti-subsidy tariff on Chinese steel producers

CSC said that it has adjusted its sales strategy by shipping more cold-rolled steel products to the US market to take advantage of the heavy financial punishment its Chinese rivals now face.

CSC said that its subsidiary, CSC Sumikin Vietnam Joint Stock Co, will seize the opportunity to ship more cold-rolled steel products to the US market. CSVC is a joint venture between China Steel and Japan’s Sumitomo Metal Industries Ltd.

CSC said “The US’ cold-rolled steel market had been disrupted by these foreign makers’ dumping practices, but the punitive tariffs imposed on the seven countries should help restore order in the US market and boost product prices.”

It added “US move should also prompt other Taiwanese firms, such as Yieh Phui Enterprise Co and Sheng Yu Steel Corp, to use more of CSC’s hot-rolled steel to make cold-rolled steel products for the US market, thereby boosting CSC’s hot-rolled steel product sales.”

Source : Taipei Times

voda 4 maart 2016 17:02

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Infra spending unlikely to boost steel demand in India – Fitch Rating

Press Trust of India reported that Fitch Ratings said that the increased infrastructure spending in the Budget 2016-17 is unlikely to provide a boost to domestic steel demand and that India steel producers also face over-capacity, which is likely to weigh on their profitability and credit metrics in the near term

However, the ratings agency said demand can grow if project execution rates pick up significantly.

It said “For 2015-16 fiscal, the government had budgeted for infrastructure investment to double from actual spending in 2014-15. However, except for a pick-up in road construction (up 36 per cent Y-o-Y in H1 FY'16), project implementation appears to have been weak so far in 2015-16/.”

It added “Private-sector investment has also remained weak, given the stretched corporate balance sheets. As a result, steel demand growth in India has remained soft at 4.7 per cent year -on-year (Y-o-Y) during April-December this fiscal.”

It said "We expect steel demand growth to improve slightly to 7-8 per cent in 2016-17, supported by a pick-up in government infrastructure spending with better project execution.”

It warned that “However, the steel industry is burdened by overcapacity. Domestic capacity is scheduled to jump by about 15 million tonnes over the second half of 2015-16 and 2016-17 period, which will exceed a potential 6 million tonne increase in domestic steel demand in the next fiscal. At the same time, the global supply continues to outstrip demand. Given the supply-demand growth mismatch, producers are likely to engage in price competition amid weak utilisation levels. Therefore, a recovery in sales realisation and profitability for Indian steelmakers is unlikely before fiscal 2017-18.”

Source : PTI

voda 4 maart 2016 17:10

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Odisha auctions first iron ore mine to earn INR 11,300 crore

Press Trust of India reported that Odisha has successfully conducted a mining lease auction of a iron ore block with estimated reserves of over 99 million tonnes and the total revenue expected from the block over the lease period of 50 years is around INR 11,328 crore

A senior government official said that “The total revenue includes a royalty of around INR 2,779 crore, DMF contribution of INR278 crore, NMET contribution of INR 56 crore. The total estimated value of the iron ore reserve is about INR 18,500 crore.”

This is the sixth successful auction in the ongoing process, in which the states have offered 46 blocks containing minerals such as gold, iron ore, limestone and bauxite. In total, 14 blocks of iron ore have been offered by states, which include 14 by Karnataka and one each by Maharashtra and Odisha.

Earlier, the mines auction in Maharashtra, Gujarat and Rajasthan had failed to find many interested parties, forcing the state governments to talk to industry and working on re-auctioning the blocks.

Source : Press Trust of India

voda 4 maart 2016 17:12

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Steel ministry to ask for lower duty on higher grade iron ore

Financial Express reported that while the export duty on iron ore with less than 58% Fe content was removed in the Budget, the steel ministry is set to ask the finance ministry to reduce the duty on ore with higher Fe content too. Currently, the export duty on ore with iron content above 58% is a prohibitive 30%.

A senior steel ministry official said the proposed duty cut would not only help the miners to clear the mine-head stocks which now stand at an all-time high of around 150 million tonne, but also keep the current momentum of production.

Export duty on iron ore, both lumps, or higher grade, and fines, or inferior grade, were nil before the UPA government imposed duties to gradually take them up to 30%, with the aim of preserving the raw material in the country for future use. Coupled with a Supreme Court-imposed export ban, the higher duty led to exports nosediving to just 6.12 mt in 2014-15 from 117.3 mt in 2009-10.

India used to export iron ore mostly in the form of fines to China, the highest consuming nation, for want to sufficient consumption within the country. The share of India in iron ore export to China came down to 20% in 2008 to less than 0.5% in 2014. The government, with effect from April last year, had reduced the export duty on ore containing less than 58% iron to 10% from 30% earlier.

Source : Financial Express

voda 4 maart 2016 17:13

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Rio Tinto increase Pilbara iron ore reserves

Included in Rio Tinto’s annual Ore Reserves and Mineral Resources update, released to the market as part of its 2015 Annual Report, are increases in Ore Reserves in Pilbara iron ore deposits in Western Australia. As at the end of 2015, the estimated iron ore Ore Reserves increased by 309 Mt after depletion from mining.

The increases in iron ore Ore Reserves have been delivered as part of the ongoing resource development drilling program designed to maintain Ore Reserves coverage ahead of mining depletion rates.

Increases in Ore Reserves are reported for:
Yandicoogina (Pisolite Ore) which has increased from 247 Mt to 642 Mt following the completion of Feasibility level studies within the Oxbow portion of the channel and Prefeasibility level studies for the Billiard South portion of the channel.
Brockman 2 (Brockman ore) which has increased from 62 Mt to 93 Mt due to additional drilling, modelling and mine planning studies within the existing operations.
West Angelas (Marra Mamba ore) which has increased from 185 Mt to 209 Mt due to the first time reporting of the Deposit F deposit following the completion of a Prefeasibility level study.

Ore Reserves are quoted on a 100% basis.

Source : Strategic Research Institute

voda 4 maart 2016 21:25

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Met dank aan poster oiljunk:

ArcelorMittal SA (MT) Given a €3.45 Price Target at Goldman Sachs

March 4th, 2016 - By Thomas Dobrow - 0 comments

ArcelorMittal SA logoGoldman Sachs set a €3.45 ($3.79) target price on ArcelorMittal SA (EPA:MT) in a research note released on Thursday morning, Analyst Ratings Network.com reports. The brokerage currently has a a neutral rating on the stock.

Several other research analysts have also recently issued reports on MT. Independent Research GmbH set a €4.50 ($4.95) price objective on ArcelorMittal SA and gave the stock a sell rating in a research report on Tuesday, November 10th. HSBC set a €3.70 ($4.07) price objective on ArcelorMittal SA and gave the stock a neutral rating in a research report on Thursday, January 28th. Citigroup Inc. set a €3.10 ($3.41) price objective on ArcelorMittal SA and gave the stock a neutral rating in a research report on Wednesday, February 10th. JPMorgan Chase & Co. set a €2.70 ($2.97) price objective on ArcelorMittal SA and gave the stock a neutral rating in a research report on Tuesday, February 9th. Finally, S&P Equity Research set a €3.20 ($3.52) price objective on ArcelorMittal SA and gave the stock a sell rating in a research report on Friday, February 5th. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of €4.16 ($4.57).

ArcelorMittal SA (EPA:MT) opened at 4.30 on Thursday. ArcelorMittal SA has a 12 month low of €2.59 and a 12 month high of €10.63. The stock’s 50 day moving average is €18.85 and its 200 day moving average is €18.85.

ArcelorMittal SA is a Luxembourg-based company involved in the mining and steel industry. Its divisions include Flat Carbon Americas; Flat Carbon Europe, Long Carbon Americas and Europe; Asia, Africa and Commonwealth of Independent States (EPA:MT) (AACIS), and Distribution Solutions.

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