Arcelor Mittal

Russian steelmakers have increasing problems on foreign markets

Excess of cheap steel on the global market led to the fact that in recent years the number of anti-dumping investigations in this area increased dramatically. The industry believes that its main threat is a sharp increase in the production in China, but closing from cheap Chinese steel importing countries also block the supply of metal from other countries, including Russia. It becomes increasingly difficult for domestic steelmakers to fight a wave of isolationism on their traditional overseas markets, and they can redirect the export to other countries always.
Since 2010, Russian steelmakers exported about one-third of the produced steel - 25-27 million tons of rolled products per year. These volumes are less than the export sales of 2008-2009, which reached 30 million tons, and may even decline because of the surge in protectionist investigations worldwide. According to the Ministry of Economy, in 2014-2015, 18 new investigations and revisions of measures affecting exports of Russian steel industry were initiated abroad, and eight of them have ended not in favor of Russia.

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Net loss of ArcelorMittal rose to $1.26 bln over 9 months

​The net loss of ArcelorMittal rose by 9.6 times to $1.26 bln over 9 months.
Diluted loss per share made up $0.70 against the loss of $0.08 in Jan-September 2014. The company’s sales in Jan-September 2015 fell by 18.1% to $49.597 bln. The operational profit fell by 52.5% to $1.17 bln in Jan-September 2015.
In Q3 ArcelorMittal made a net loss of $711 mln while in Q3 2014 it made a profit of $22 mln. Diluted loss per general share made up $0.40 against the profit of $0.01 in Q3 2014. Meanwhile the sales volume in Q3 fell by 22.3% to $15.589 bln. The operational profit made up $20 mln having fallen in annual terms by 47.95 times.
Iron ore extraction in Jan-September 2015 made up 47.3 mln tons against 47.2 mln tons in Jan-September 2014. In Q3 ArcelorMittal extracted 15.4 mln tons of ore, by 2.5% less than in Q3 2014. Crude steel output in Jan-September 2015 rose by 1.14% to 70.8 mln tons, in Q3 fell by 3.3% to 23.1 mln tons.
ArcelorMittal explains its weak financial results by the steel price fall and low export prices.

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ArcelorMittal reduces production in Mexico by 90%

The Mexican division of the metallurgical group ArcelorMittal will reduce the production of slabs by 90%, as well as suspend indefinitely the operation of the Las Truchas mine. The decision, which will affect the fate of 2500 workers, was made in connection with the reduction in steel prices on world markets and the growth of the supply of steel products from China, Brazil and Russia on the market of Mexico, the SteelOrbis reports.

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“ArcelorMittal Temirtau”: Productivity of converters is up by 6.8%

There completed a scale project, the reconstruction of gas exhaust ducts of converters No1, 2, 3 at the steel melting shop of a metallurgical plant “ArcelorMittal Temirtau”. Investments make up $171 million, press service of the company states.

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ArcellorMittal to build new metallurgical plant in Czech city Ostrava

The largest steel company in the world ArcelorMittal of the British billionaire of Indian origin Lakshmi Mittal plans to invest in the construction of a new steel plant in the northeast of the Czech Republic.
The amount of the investments can exceed a billion crowns.

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Problems of China’s economy have lowered the price of the shares of ArcelorMittal by 6.7%

Metaltorg.ru reports referring to  Bloomberg, that the shares of ArcelorMittal fell to the rates of 11 years back on the background of weakening of China’s economy.
The shares of ArcelorMittal fell by 6.7% to €6.876, the lowest rate from March 2004.
The price for raw materials and the companies producing them sharply fall around the world on the background of forecasts of a slow growth of China’s economy. Metallurgical companies fight with a cheap flow of steel export from China which has sharply increased due to the reduction of the domestic demand.

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ArcelorMittal Temirtau thinks that it’s too much to reduce wage with the devaluating tenge

The largest mining and metallurgical complex in Kazakhstan ArcelorMittal has postponed decision on reduction of wages by 25%. This was reported by the press centre of the company on Friday, which added that negotiations with trade unions were ongoing.
The reason was the introduction of a floating exchange rate of Kazakhstan tenge resulting in the fall of the country’s national currency by almost 30% for a day. The Kazakh authorities have announced a new monetary policy on August 20, explained that the introduction of the floating exchange rate would allow to fill the budget losses.

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ArcelorMittal Temirtau has been fined for violations at fuel, oil and lubricants sale

The Court stated that ArcelorMittal Temirtau JSC should pay over 1.5 mln tenge with the collection of illegally made profit for over 60 mln tenge for the violation of legislation at the sale of fuel, oil and lubricants, the press service of the Karaganda regional Court reported.
The Administrative Court of Temirtau has considered the materials concerning ArcelorMittal Temirtau submitted by the Agency of State Income of Temirtau.
At the hearing it was stated that on the basis of the agreement for the supply of goods ArcelorMittal Temirtau sold petrol and diesel fuel for the total amount of 67.9 mln tenge to  “Okzhetpes” LLP. The fact of sale was confirmed by the pro-forma invoices. At the sale of oil products ArcelorMittal Temirtau didn’t issue the respective way bills.

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ArcelorMittal Krivoi Rog reduced steel making by 32%

​In July 2015 the production of cast iron and steel at ArcelorMittal Krivoi Rog fell by a third.
In July 2015 ArcelorMittal Krivoi Rog produced 383.1 thousand tons of steel, by 32% less than in July 2014. Cast iron output also fell by 32% from 507.8 thousand tons in July 2014 to 343.6 thousand tons in July 2015. The output of finished tolled products fell by 28% and made up 338.5 thousand tons.
Cast iron and steel making fell as a result of the shutdown for capital repair of the largest blast furnace. CEO of ArcelorMittal Krivoi Rog, P. Kalon, said that the reduction of production resulted in the decrease of stock reserves.
The repair of the blast furnace #9 successfully ended on July 31st. A 7-day repair of the blooming-2 shop of ArcelorMittal Krivoi Rog was completed.

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ArcelorMittal worsens its forecast on the volumes of steel consumption

ArcelorMittal, the largest steel producer in the world, reconsiders its forecast on the volumes of visible steel consumption for 2015 in the negative direction. The reason is the worsening of the results of the USA, China, Brazil, Russia and neighbouring countries. Now the company thinks that the world steel market will stay at the previous level and will not rise by 0.5-1.5% as was previously expected.

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