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MarketScreener Homepage  >  Equities  >  Euronext Amsterdam  >  ArcelorMittal    MT   LU1598757687

ARCELORMITTAL

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EU's Vestager to brief other EU commissioners on steel market

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05/22/2019 | 05:50am EDT
A steel worker of Germany's industrial conglomerate ThyssenKrupp AG takes a sample of raw iron from a blast furnace at Europe's largest steel factory in Duisburg

BRUSSELS (Reuters) - Europe's antitrust chief Margrethe Vestager, who has scrutinised mergers involving steel producers, will share her insights of the steel market with her European Commission colleagues on Wednesday.

The move came as world No. 1 steelmaker ArcelorMittal warned of a weak market in Europe and announced a cut in its European steel output while British Steel, Britain's second largest steel company, risks collapse with 25,000 jobs at stake.

"The steel market as such is of great interest to the Commission. You have seen all the work done by Katainen over the years. So this is a good occasion to do a sort of state of play of the steel market as such," Vestager told reporters before the Commissioners' meeting.

Commission Vice President Jyrki Katainen has been involved in a number of steel and aluminium dumping cases.

Vestager, who is expected next month to block a planned steel joint venture between German conglomerate ThyssenKrupp and Tata Steel for failing to address competition concerns, said the deal was not part of the discussion.

Her team has also looked into ArcelorMittal's purchase of Italian producer Ilva.

(Reporting by Foo Yun Chee; editing by Philip Blenkinsop)

Stocks mentioned in the article
ChangeLast1st jan.
ARCELORMITTAL 0.25% 14.986 Delayed Quote.-17.39%
TATA STEEL 2.42% 498 End-of-day quote.-6.68%
THYSSENKRUPP -0.43% 11.695 Delayed Quote.-21.93%
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Financials ($)
Sales 2019 75 183 M
EBIT 2019 4 534 M
Net income 2019 3 077 M
Debt 2019 8 435 M
Yield 2019 1,49%
P/E ratio 2019 5,36
P/E ratio 2020 4,78
EV / Sales 2019 0,34x
EV / Sales 2020 0,33x
Capitalization 17 362 M
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Mean consensus OUTPERFORM
Number of Analysts 21
Average target price 26,9 $
Spread / Average Target 58%
EPS Revisions
Managers
NameTitle
Lakshmi Niwas Mittal Chairman & Chief Executive Officer
Aditya Mittal President & Chief Financial Officer
Brian E. Aranha CTO, Executive VP, Head-Research & Development
Michel Wurth Non-Independent Non-Executive Director
Vanisha Mittal Bhatia Non-Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
ARCELORMITTAL-17.39%15 198
POSCO--.--%17 813
NOVOLIPETSK STEEL PAO--.--%15 873
NIPPON STEEL CORP-0.24%15 761
NUCOR3.73%15 172
SEVERSTAL' PAO--.--%13 288