ArcelorMittal Appears Poised for Gains from Indian Operations -- Market Talk

Dow Jones11-15 18:07

1007 GMT - ArcelorMittal appears poised to reap gains from its Indian operations, Citi analysts say in a research note. India is responsible for more than half of the global steel demand growth since the pandemic, a trend that will continue for the next decades, the analysts say. The country by 2030 could contribute more than 30% of the Luxembourg-based steel group's Ebitda, compared to around 6% currently, Citi says. Capacity increases should result in Ebitda at AM/NS, ArcelorMittal's Indian joint venture with Nippon Steel, exceeding $10 billion by 2040 from $1.1 billion this year, Citi estimates. As capacity expands, AM/NS should generate enough cash for growth to be nearly self funded from 2026, Citi says. ArcelorMittal shares trade 0.85% higher to 23.71 euros. (pierre.bertrand@wsj.com)

(END) Dow Jones Newswires

November 15, 2024 05:07 ET (10:07 GMT)

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India is responsible for more than half of the global steel demand growth since ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"MT","symbol_name":"安赛乐米塔尔","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2483834707","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2483834707","pubTimestamp":1731665220,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"1007 GMT - ArcelorMittal appears poised to reap gains from its Indian operations, Citi analysts say in a research note. 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