ArcelorMittal on brink of ‘multi-year’ steel rebound: Deutsche Bank
New York (Platts)–21Oct2013/109 pm EDT/1709 GMT
Arcelor Mittal is now better positioned for a “multi-year recovery,” Deutsche Bank analysts said Monday, acknowledging the world’s largest steelmaker has “suffered more volume pain” than other steel producers during the post-2008 downturn, but “should benefit on the way up.”
A tonnage (volume) recovery would likely capture positive momentum “at least in proportion with or above its market share,” David Martin and Bastian Synagowitz wrote in a Deutsche Bank Markets Research note. Also, any momentum would be buoyed by an expected recovery in auto production at French OEMs — historically an important customer segment for ArcelorMittal, they said.
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