ArcelorMittal

Companies 20th November 2025

Trump’s executive order to reduce tariffs on Canadian steel and aluminium would impact ArcelorMittal’s EBITDA by $300 million maximum

Renta 4 | Trump has signed an executive order that would allow the Department of Commerce to reduce tariffs on steel and aluminium from 50% to 25% for Canada, provided certain conditions are met. We recall that Trump imposed a 50% tariff on imports from Canada on 1 April. The impact of the tariffs is around $150 million/quarter at EBITDA level, although we believe that ArcelorMittal would be passing on…

Companies 8th October 2025

EC announces proposal to revise steel import quotas

Bankinter | The European Commission (EC) announces a proposal to revise steel import quotas in Europe. It reduces current quotas by 50% and raises the tariff to 50% (from 25%) above a certain quota (18.3Mtn). The aim is to protect the European steel industry in a context of global overcapacity. The EU seeks to prevent cheap steel from countries such as China and India from being diverted to Europe following…

Uncategorised 24th September 2025

Arcelormittal quietly approaches historic resistance levels at €32, corresponding to recurring zone of highs since 2012

Renta 4 | Much like Acerinox, Arcelormittal is approaching historic resistance levels of €32, corresponding to a recurring peak zone since 2012. At the beginning of this year, both stocks threatened to jump above this level, but the corrections in February thwarted the attempt. Acerinox, failing to beat February’s highs of €11.65, has managed to consolidate prices above historical resistance levels at €10.20. Arcelormittal has yet to comfortably beat the…

In Europe 24th June 2025

ArcelorMittal puts decarbonisation plans on hold at two German plants due to energy policy and regulatory environment

Morgan Stanley | Our analyst Alain Gabriel highlights two pieces of news from the steel sector that are delaying decarbonisation targets. ArcelorMittal has announced that it is putting its decarbonisation plans on hold at two German plants (Bremen and Eisenhüttenstadt) given the energy policy and regulatory environment. In addition, Arcelor has confirmed that it will not be able to meet its 2030 emissions intensity targets. It justifies this on several…

In the World 20th June 2025

Nippon Steel acquires US Steel: favourable for ArcelorMittal, which acquires 50% of one of North America’s best factories

Renta 4 | Nippon Steel finally acquires US Steel for $14.1 billion. This transaction means that ArcelorMittal (MTS) will acquire 50% of the joint venture it had with Nippon Steel in Calvert. Arcelor will pay $1. Nippon Steel will receive compensation of $900 million in cash and debt cancellation. The plant will be renamed ArcelorMittal Calvert. AM expects this acquisition to increase the group’s net debt by $1.3 billion and…

European economy 4th June 2025

Tariff effect could subtract ~10% from ArcelorMittal’s 2025 Ebitda and cut expected recovery this year

Banc Sabadell: Trump will impose an additional 25% tariff on steel imports which would leave the tariff burden on these products at 50%. Assessment: Negative news given that we understand that although at first the company stated that the impact of the tariffs could be positive, the fall in the dollar, together with the fall in demand linked to the uncertainty, would be weighing on the business. Thus, despite its…

Spanish economy 2nd June 2025

Tariffs on steel and aluminium up from 25% to 50%: negative for ArcelorMittal, positive for Acerinox

Bankinter | US President D. Trump announced that he will raise tariffs on all steel and aluminium imports from all countries from 25% to 50% as of Wednesday 4 June. The 25% tariff was set on 12 March. Analysis team’s view: This increase comes days after a US International Trade Tribunal called into question reciprocal tariffs, but not sectoral tariffs. This new sectoral tariff increase complicates ongoing negotiations with many…

In the World 29th May 2025

Nippon Steel-US Steel agreement to allow ArcelorMittal to buy 50% of Nippon Steel-owned Calvert for $1.00

Renta 4 | The US government is expected to give the green light to Nippon Steel’s “buyout” of US Steel. The deal could be announced tomorrow, Friday, during a visit by Trump to Pittsburgh. Many details of the deal are still unknown, although it is clear that the government will impose severe restrictions on Nippon. Among them, the government would maintain a “golden share”, a remedy sometimes used by European…

European economy 14th April 2025

European steel sector: EBITDA for 2026 expected to be 7% lower on average, ArcelorMittal among best options

Deutsche Bank | The most pessimistic fears have been mitigated, but US tariffs have created great uncertainty about steel demand, given the complexity of breaking down the impact on end markets. In our new baseline scenario we reflect this situation (although without reaching a full-blown recession) and we cut our assumptions about demand and prices in the sector, reducing our EBITDA forecasts for 2026 by 7% on average. We also…

In Europe 7th February 2025

Arcelor Mittal’s 4Q24 results show weakness in operating terms due to additional charges but Ebitda beats expectations

Bankinter | 4Q2024 EBITDA better by Joint Venture. Raises dividend and expects demand to improve in 2025. Tariff risk and overcapacity in the sector remain. Key figures compared to the company’s consensus for 4Q24: Revenues $14,714m (+1.1% year-on-year, -3.2% year-on-year); EBITDA $1,654m (versus +13.8% year-on-year and +4.6% year-on-year) versus $1,529m estimate (margin stood at 11.2% from 10.4% 3Q2024). NAB -$390m (versus $2,966m in 4Q 2023 and +$287m in 3Q 2024)…

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