ArcelorMittal

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)…

In Europe 29th January 2025

ArcelorMittal, among best-positioned companies to take advantage of improving business environment

Morgan Stanley | Alain Gabriel summarises the various changes in the European market environment that we could see during the year. Starting with the review of import quotas, which expire in June 2026, and whose review ends on 31 March 2025. Alain believes there is potential for a reduction in quotas, implementation of quotas on an individual level and/or tariff increases. An anti-dumping investigation of HRCs from Egypt, India, Japan…

In Europe 6th November 2024

Preview ArcelorMittal 3Q24 Results: 8% deterioration in net income expected to reach €470 million

Renta 4 : The company announced that it was changing the way it publishes results as of 2024. The main changes are: 1) New “sustainable solutions” division, whose results come from the Europe division (which is revised), 2) inclusion of the contribution of the net results of the JVs, mainly India, Calvert (USA), China and others, which were previously in the results of investees and 3) ACIS (Eastern Europe, South…

In the World 16th October 2024

ArcelorMittal agrees to buy 50% of Nippon Steel’s JV in Calvert for $1, only if Japanese company eventually acquires US Steel

Renta 4 : The European steelmaker has reached an agreement with Nippon Steel to buy 50% of its stake in the Calvert mill. ArcelorMittal holds the remaining 50%. AM will pay $1 and Nippon Steel will also inject cash and forgive loans totalling about $900 million. This deal is subject to Nippon Steel securing regulatory approvals allowing it to acquire US Steel. ArcelorMittal and Nippon Steel created the Calvert JV…

In the World 27th September 2024

ArcelorMittal India generates $5.8 billion in cash since acquiring assets and invests same amount in growth

Renta 4 | ArcelorMittal (AM) has organised a visit for analysts to the Hazira plant in India, AM’s main facility in the country. AM created the JV in India (AM/NS India) together with Nippon Steel 60%/40% in 2019. AM/NS India has generated $5.8 billion of cash since the acquisition of the assets and has invested the same amount in its growth, acquisition of mines, ports, power facilities, land. Despite the…

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