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Aandeel ArcelorMittal AEX:MT.NL, LU1598757687

  • 24,330 3 jun 2024 13:36
  • +0,170 (+0,70%) Dagrange 24,300 - 24,610
  • 1.209.171 Gem. (3M) 2,6M

Nieuws en info hier plaatsen (deel 4)

35.173 Posts
Pagina: «« 1 ... 88 89 90 91 92 ... 1759 »» | Laatste | Omlaag ↓
  1. forum rang 10 voda 7 mei 2014 20:54
    Aperam verwacht weinig impact van conflict Oekraine en sancties Rusland

    AMSTERDAM (Dow Jones)--Staalbedrijf Aperam sa (056997440.LU) verwacht weinig invloed voor zijn productie door de crisis in Oekraine en eventuele bredere economische sancties op Rusland. Dit heeft de chief executive van het staalbedrijf Philippe Darmayan woensdag verklaard in een conference call naar aanleiding van de eerste kwartaalcijfers.

    "Een marginaal effect", aldus de CEO die erop wees dat Aperam wat dat betreft wat gunstiger gepositioneerd is dan andere Europese bedrijven omdat het geen Russische aandeelhouders heeft en er geen ruw materiaal uit Rusland komt.

    Staalbedrijf Aperam heeft in het eerste kwartaal meer omzet behaald. Ook het bedrijfsresultaat verbeterde ten opzichte van een jaar eerder en het kwartaal ervoor, bleek woensdag verder bij het openen van de boeken over de eerste drie maanden van 2014.

    "Onze verbeterde prestaties in het eerste kwartaal reflecteren de behendigheid van Aperam om te profiteren van betere marktomstandigheden terwijl we voortgang blijven boeken met ons Leadership Journey-programma en onze nettoschuld onder controle houden", aldus Darmayan ter toelichting op de cijfers.

    Bij de jaarcijfers begin dit jaar kondigde het bedrijf aan dat het de doelstelling voor het besparingsprogramma heeft verhoogd tot $475 miljoen per eind 2015. Het eerdere doel was $425 miljoen per eind 2014.

    De nettoschuld staat per 31 maart 2014 op $689 miljoen, tegen $690 miljoen eind december. Aperam geeft aan te verwachten dat de nettoschuld in het tweede kwartaal iets afneemt.

    De CEO van de producent van roestvast staal zegt verder: "Vooruitkijkend, ondanks het recente herstel van de reeele vraag naar roestvast staal, blijven we voorzichtig gezien de ontwikkeling van de nikkelprijs en de schijnbare vraag in 2014."

    Nikkel is een essentiele grondstof voor de productie van roestvast staal. Wanneer de prijs daalt stellen afnemers hun bestellingen uit in afwachting van verdere prijsdalingen. Sinds het begin van het jaar is de prijs juist behoorlijk gestegen. Over een eventueel tekort aan nikkel maakt Darmayan zich vooralsnog geen zorgen. De hoge nikkelprijs wijt hij op het moment vooral aan het exportverbod in Indonesie en minder aan de ontwikkelingen in Rusland, een grote exporteur van nikkel.

    In de eerste drie maanden van 2014 kwam het bedrijfsresultaat voor rente, belastingen, afschrijvingen en amortisatie, de EBITDA uit op $129 miljoen, tegen $65 miljoen een jaar eerder en $84 miljoen in het vierde kwartaal. De verbetering was te danken aan een hogere activiteit, ondermeer door een zogenaamd herbevoorradingseffect bij afnemers omdat de nikkelprijs steeg. Aperam verwacht dat de EBITDA in het tweede kwartaal hoger uitkomt dan in de afgelopen verslagperiode.

    De omzet kwam in de driemaandsperiode uit op $1,394 miljard, tegen $1,269 miljard in dezelfde periode een jaar eerder en $1,281 miljard in het vierde kwartaal. Verder wist Aperam een verlies van $28 miljoen in het eerste kwartaal van 2013, gevolgd door een verlies van $42 miljoen eind vorig jaar, in de eerste drie maanden van 2014 om te buigen in een nettowinst van $19 miljoen. Per aandeel was dit een winst van 24 dollarcent, om een verlies van 36 cent in het eerste kwartaal een jaar eerder en 53 cent in de laatste drie maanden van 2013.

    De staalverschepingen stegen in de afgelopen verslagperiode naar 475 kiloton, van 401 kiloton een jaar eerder en 441 kiloton in het vierde kwartaal.

    Het aandeel sloot woensdag 0,3% hoger op EUR18,96.

    Door Marleen Groen; Dow Jones Nieuwsdienst; +31 20 5715 200; marleen.groen@wsj.com


  2. forum rang 10 voda 8 mei 2014 16:37
    Aperam advies omhoog naar overweight bij JPMorgan - Market Talk

    AMSTERDAM (Dow Jones)--Het advies op Aperam (056997440.LU) gaat bij JP Morgan omhoog naar overweight van neutral. Volgens de analist kan Aperam profiteren van zijn kostenbesparingsprogramma 'Leadership Journey', daar de waarderingen voor sectorgenoten vooral worden gestimuleerd door de hogere nikkelprijs. JPMorgan stelt voor dit en volgend jaar zijn verwachtingen voor de EBITDA bij naar respectievelijk $454 miljoen (van $394 miljoen) in 2014 en $517 miljoen (van $448 miljoen) in 2015 door de efficientie van het kostenbesparingsprogramma. Het koersdoel wordt verhoogd naar EUR24,50 van EUR20,50. Goldman Sachs komt donderdag ook met een koersdoelverhoging voor Aperam: naar EUR27,00 van EUR26,50. Ook de EBITDA-verwachting voor dit jaar gaat omhoog, naar $433 miljoen (8% boven consensus) onder meer op basis van de robuuste onderliggend vraag naar roestvast staal in Europa en de hervoorrading bij afnemers vanwege de hogere nikkelprijs. Goldman, dat zijn buy-advies handhaaft, sluit verdere prijsverhogingen van nikkel dit jaar niet uit. Aperam sloot woensdag op EUR18,96. (MMG)

    Dow Jones Nieuwsdienst: +31-20-5715200; amsterdam@dowjones.com


  3. forum rang 10 voda 8 mei 2014 16:53
    Iron ore shortfall can lead to flare in long prices in India

    As iron ore shortage looms large over India after banning mining from deemed lease (after 2007) by Supreme Court.

    If the SC decides on a complete ban on mining in Odisha like Karnataka and Goa earlier, it would strike at the very heart of the country's 80 million tonness domestic steel industry. These include mines belonging to steel majors like Tata Steel and SAIL where production could come to a grinding halt.

    It would also hit a number of smaller players including pellet manufacturers, sponge iron companies and rolling mills located in and around the mines.

    In the emerging scenario it is likely that more rolling mills would switch over from sponge to scrap as input material for manufacturing long products. Presently scrap market is going strong with offers to Indian importers being made at USD 390-395 per tonne CFR , Mumbai (HMS 1&2), shredded scrap is being offered at USD 400-405 per tonne , CFR

    In the eventuality of iron ore production getting curtailed after the ban being clamped in Odisha apart from Karnataka and Goa demand for scrap will soar leading to increase in price and input cost. Hiked input cost will lead to increased cost of production for ingot and re-rollers. However finished demand remaining sketchy owing to low demand from construction and infrastructure margin of re-rollers will be squeezed further.

    Source – Strategic Research Institute
  4. forum rang 10 voda 8 mei 2014 16:54
    Essar Steel to ramp up capacity to 7 million tonnes in FY 2015

    Essar Steel, part of the diversified Essar Group, hopes to be profitable by 2014 to 2015 as the company is in the process of ramping up its capacity to 7 million tonne. The company is producing around 5 million tonne of steel in Hazira and plans to ramp up its capacity to 7 million tonne in 2014 to 2015.

    Mr Dilip Oommen CEO and MD of Essar Steel, said that “We hope that current financial year will be better than last year with higher domestic steel demand and the steel firm aims to increase its capacity utilisation levels this fiscal. With increase in our production capacity and focus on value added products, we hope to be profitable this financial year.”

    Essar Steel has also invested around INR 4,200 crore to set up an integrated facility in Odihsa that includes a 12 million tonne per annum iron ore beneficiation plant at Dabuna and a 253 kilometer slurry pipe line connecting Dabuna and Paradip. This will allow it to make use of easily available low-grade ore by converting it into concentrated pellets that are molten to produce steel in a furnace.

    Mr Oommen said that “The slurry pipeline in Odhisa will be operational in the next three months and our freight costs will be nil which would be a significant savings for the company. Further the company plans to reduce its debt as it hopes demand to pick up post elections in the domestic market. The company also plans to increase exports in 2014 to 2015.”

    He said that “Essar Steel which has a total debt of around INR 26,000 crore, will also increase its focus on exports in the present financial year by taking it to 30% of the total sales from present 25%. The group also hopes to raise USD 2 billion from overseas by the end of Q1 of the present financial year, to retire rupee debt, which will help the company to reduce its interest outgo.”

    Mr Mahadev Iyer, director of finance and CFO of Essar Steel, said that “We hope to complete the raising of USD 2 billion loan from overseas market by June, to replace costly domestic debt and reduce our interest costs.”

    Mr Iyer said that “The conversion of rupee loans into dollar will also increase the tenor of repayment to an average of around 10 years. The savings on interest outgo would be around INR 1,200 crore annually and the average interest cost would also come down to 6% to 7% from 12% after the completion of this process.”

    Source - www.mydigitalfc.com
  5. forum rang 10 voda 8 mei 2014 16:56
    Mexican and Indian steel firms join hands to set up micro steel mills

    Monterrey, Mexico based PMP Grupo-Planeacion and India based Preet Group PG announced a business alliance at the Association for Iron & Steel Technology conference in Indianapolis, Indiana to expand into the US and Canada, building steel scrap based mini mills tocater to regional markets , which would strategically located in Mexico , USA and Canada

    Mr Porfirio Gonzalez president of PMP said that “The concept is to build the micro steel mills directly in regional markets , capturing and processing of steel scrap in the area, in addition to steel products to be sold in an area about 100 miles around , which would eliminate the costs of transporting raw materials and finished products.”

    He added that the plants are intended for the production of barbed wire, chain link fence, mesh paths, nails cloves and wire.

    Mr Preet Singh Chauhan director of Preet Machines Limited India said that each plant requires an initial investment average between USD 40 and USD 100 million, which will create 200 to 400 direct jobs in each plant .

    Source - dineroenimagen.com
  6. forum rang 10 voda 8 mei 2014 16:58
    Excess capacity remains biggest threat to global steel sector - EY

    BNAmericas cited Mr Michael Elliott global mining and metals leader of EY as saying that the global steel market remains threatened by excess capacity and only the permanent shutdown of high cost capacity will bring balance to the market.

    Mr Elliott said that "About 300 MT of steelmaking capacity needs to be closed over the next decade for the industry's profit margin to reach a sustainable level. This would raise the industry's capacity utilization rate from below 80% to more than 85%."

    He said that “Capacity utilization in the industry averaged 78.1% in 2013 up from 76.2% the previous year. In 2012, 50 MT of crude steel capacity was removed from the global market (ex China), but global overcapacity was still an estimated 334 MT. While some capacity is expected to be removed over the next decade, the announced addition of capacity by steelmakers out to 2020 shows that investment is still increasing."

    Supply
    Global steel production increased by 3.5% in 2013 to 1.61 MT. The most notable increase was in China where at least 58 new furnaces came on line adding 80 MT of annual capacity. Steel production in Japan also rose by 3.1% to 111 MT. Declines were recorded in South Korea, the US, Brazil and Europe. In 2014, global steel output is forecast to rise to 1.64 MT with China accounting for 802 MT. Consumption this year is projected at 1.63 MT leaving a surplus of 7 MT down from last year's surplus of 21 MT.

    Demand
    Global steel demand increased by an estimated 3.2% in 2013, mainly due to increased infrastructure and construction activity, especially in Asia. In 2014, global demand is expected to increase at about 3.3%. Steel demand from Europe and the US is likely to improve in 2014 to 2015. China was the clear driver of growth in 2013, with demand increasing 6% last year. However, in the rest of the world, demand for steel failed to meet expectations. The majority of demand came from emerging markets (+4.9%), while demand in the EU continued to contract (-3.8%). In North America, apparent steel use rose by 0.2% in 2013.

    Outlook
    Mr Elliott said that “In 2014, demand growth in China is expected to moderate as the government steers the economy away from investment-led towards consumption-led growth. However, the country remains a determining factor for the global steel market in the medium to long term. If urbanization projects continue, accompanied by a strong domestic economy and a growing middle class, the demand for steel will continue to stimulate. The product range is also expected to shift to more sophisticated consumer products such as automobiles and home appliances.”

    Source – Bnamericas.com
  7. forum rang 10 voda 8 mei 2014 16:59
    Heavy gauge decoiler at Maastricht to target high strength steels market

    TATA Steel's Service Center Maastricht subsidiary in the Netherlands is to commission a large heavy gauge decoiler by the end of 2014 which will serve the growing markets in Europe for high strength steels, especially in the Lifting & Excavating sector.

    The decoiler is to be installed at the Feijen heavy gauge decoiling business at Maastricht. It will be able to decoil and cut to length hot rolled coil up to 25 mm thick, 2,600 mm wide and in premium grades including the Ympress high strength low alloy range.

    Mr Jens Lauber MD of TATA Steel's Distribution Mainland Europe business said that "What we're hearing from our customers and from the market generally is that there's an increasing need for steel processors to be offering premium high strength sheet. In practice, for heavy gauge decoilers, this means they want increased thicknesses, improved flatness quality and sheet that's been processed from coils made of higher strength steels."

    The volumes of throughput handled at Maastricht will remain much the same following a reconfiguration of the Feijen decoiling business in which several older decoilers will be dismantled. This will result in a new, more efficient heavy gauge decoiling service at Maastricht with an enhanced product range.

    Mr Jens Lauber said that "The new Maastricht decoiling configuration will be highly efficient operationally. Together with our other European operations, Maastricht's Feijen service centre will form part of a high quality distribution service for the European heavy gauge market, uniquely offering the full range of hot rolled flat products, including reversing mill plate, as well as tailored service packages to meet individual customer requirements."

    Source – Netherlands Corporate News.com

  8. forum rang 10 voda 8 mei 2014 16:59
    BHP Billiton on track to lift iron ore capacity to up to 270 million tonnes

    Reuters reported that BHP Billiton is on track to increase its annual capacity to between 260 million and 270 million tonnes.

    BHP last month lifted its iron ore output guidance this year by 5 million tonnes to 217 million as it pushes ahead with new mine work in Australia.

    Mr Michiel Hovers VP for marketing at BHP Billiton said that “The miner expects China's steel production to peak at 1.1 billion tonnes by the middle of the next decade. Globally, BHP sees steel demand growth remaining strong over the next 10 years and to moderate after that. We see strong global steel demand to continue to underpin demand for iron ore."

    Source – Reuters
  9. forum rang 10 voda 8 mei 2014 17:00
    China iron ore futures fall as oversupply weighs

    Reuters reported that Chinese iron ore futures fell after gaining for two consecutive sessions, as the prospect of increased overseas supplies into the world's top consumer weighed on prices.

    Iron ore contracts for delivery in September on the Dalian Commodity Exchange traded one percent lower at CNY 761 (USD 120) by midday break.

    Iron ore for immediate delivery to China .IO62-CNI=SI was little changed at USD 106 a tonne on Tuesday, according to data provider Steel Index. This was not far off the seven-week low of USD 105.4 hit on April 30.

    An iron ore trader in Beijing said that steel mills are making some profit currently and keeping high production, which will support iron ore prices, while the continued shaky economic outlook and growing supplies of iron ore means upside room will be very limited.

    Iron ore inventories at China's main ports have surged to a record high of 112.63 million tonnes by the end of April, aggravating the level of oversupply.

    The China Iron & Steel Association said that high steel production and demand for financing has significantly driven up iron ore imports this year, leading to oversupply and a rapid fall in prices. However, steel output growth will slow down, and the overhang of iron ore stockpiles and squeezing credit for financing will push down iron ore prices.

    Source – Reuters
  10. forum rang 10 voda 8 mei 2014 17:01
    Chinese Growth stabilized - April data preview

    China Daily.com reported that the tug of-war between mini policy support and a property downturn continued in April. On one hand, infrastructure investment likely helped support overall fixed assets investment in April with the help of faster fund disbursement and project approvals, domestic orders in the PMI improved slightly and crude steel production gained steam. On the other hand, power generation weakened and property activity possibly stayed weak. Overall, we expect the upcoming April data to show growth momentum stabilizing with the help of a mini stimulus and a modestly improving export outlook.

    Underlying trade growth has likely improved somewhat, although headline numbers continue to be distorted by last year's over-invoicing. Business sentiment in US and Europe has resumed its ascendancy, although the export orders sub index in PMIs edged down in April. We believe underlying export growth edged up to about 6.5 percent year on year in April although the headline number will likely show a mostly flat picture. Meanwhile, as the industrial inventory level is still running high against new orders and financing-related arbitrage purchases appear to be ebbing, imports possibly declined another 4% YoY in April.

    Fixed investment growth probably edged up with the help of mini stimulus. Infrastructure investment likely maintained its strength into April, supported by the government's push on key investment and construction projects and quicker fiscal spending. This possibly more than offset a soft manufacturing investment and a further slide in real estate investment growth in April. As a result, we think fixed assets investment growth likely edged up from 17.4% YoY in March to 18% YoY in April, bringing year to date growth to 17.7% YoY.

    Growth in industrial production has likely stabilized. The latest PMI numbers show marginally improving domestic orders and crude steel production edged up as well, likely helped by the government's quickened pace of infrastructure investment. Crude steel production growth, although still weighed down by the reduction of obsolete capacity, picked up in April, partly helped by recovering seasonal demand and the release of some new capacity.

    Mirroring these developments, the decline in producer prices has slowed. By contrast, power generation growth weakened from March, probably implying softer activity in other heavy industrial sectors. Overall, we believe April industrial production grew 8.9% YoY.

    Still no inflationary pressure. Food prices continued to decline in April on softer demand coupled with ample supply in vegetables, seafood products and pork. The high base in April 2013 possibly also helped keep year on year price growth low, at about 2.1% this year. Meanwhile, domestic raw material prices are coming out of the trough as seasonal construction and investment activity kicks off, led by metals and chemicals. This possibly resulted in a modest sequential recovery in producer prices, narrowing the year on year decline of headline PPI to 1.8% in April.

    Steady credit growth in April. Interbank liquidity conditions remained stable during April, with the 7 day repo rate staying at around 3.4%, on average, helped by PBOC's cautious liquidity management against the backdrop of more volatile foreign exchange flows. Lending by the big four banks was reportedly solid during the first two weeks of April. As such, we believe new renminbi loans increased by CNY 800 billion in April, in line with the seasonal pattern.

    Meanwhile, with CBRC recently tightening regulations on non standard debt investment by rural financial institutions, the regulatory environment has toughened on off-balance sheet credit activity. We believe new total social financing reached CNY 1.5 trillion in April, lower than the CNY 1.7 trillion recorded a year ago. This brings overall credit growth from 16.8% YoY in March to around 16.2% YoY in April, although still accommodative against softened nominal GDP growth.

    Source – China Daily.com
  11. forum rang 10 voda 8 mei 2014 17:03
    AK Steel employee receives prestigious recognition

    AK Steel announced that Mr Johannes (Hans) Schade PhD, the company's Manager of Electrical Steel Technology and Research Laboratories has received the Benjamin F. Fairless Award from the Association for Iron and Steel Technology a global leader in networking, education and sustainability programs for advancing iron and steel technology. The award recognizes Dr Schade for his distinguished achievements in iron and steel production and ferrous metallurgy.

    Mr James L Wainscott chairman, president and CEO of AK Steel said that "Receiving the Benjamin F Fairless Award from AIST speaks volumes about Hans and our focus on research and innovation at AK Steel. We thank Mr Hans for his many contributions to our company and our industry and we congratulate him on this well deserved recognition."

    According to AIST, the award recognizes Dr Schade for helping to advance the knowledge of clean steel technologies in continuous casting. In addition, the award recognizes his passion for steel technology, his contributions to tundish metallurgy and his leadership in steelmaking and casting process technology. Since 1957, a total of eight employees from AK Steel and its predecessor company, Armco have received the Benjamin F Fairless Award from AIST.

    Source – Strategic Research Institute
  12. forum rang 10 voda 8 mei 2014 17:03
    US updates on weekly raw steel production

    In the week ending May 3, 2014, domestic raw steel production was 1,815,000 net tonnes while the capability utilization rate was 75.5%. Production was 1,835,000 net tonnes in the week ending May 3rd 2013,while the capability utilization then was 76.6%.

    The current week production represents a 1.1% decrease from the same period in the previous year. Production for the week ending May 3, 2014 is down 1.1 percent from the previous week ending April 26th 2014 when production was 1,835,000 net tonnes and the rate of capability utilization was 76.3%.

    Adjusted year to date production through May 3th 2014 was 32,089 net tonnes, at a capability utilization rate of 76.0%. That is a 0.8% decrease from the 32,359 net tonnes during the same period last year,when the capability utilization rate was 76.9%.

    Broken down by districts, here's production for the weekending May 3rd 2014 in thousands of net tonnes: North East: 221; Great Lakes: 608;Midwest: 247; Southern: 651 and Western: 88 for a total of 1,815.

    Source – Strategic Research Institute
  13. forum rang 10 voda 8 mei 2014 17:05
    2 lawmakers want EPA to assume oversight for polluting Severstal steel mill

    Two state lawmakers are calling for the US Environmental Protection Agency to oversee air pollution permitting and compliance at the Severstal Dearborn steel mill, following a Free Press report Sunday detailing e-mails showing the Michigan Economic Development Corporation’s involvement in the polluting factory’s state permitting effort.

    State Rep. Ms Rashida Tlaib, D-Detroit, who along with Rep. Mr George Darany, D-Dearborn said that “The e-mails uncovered make it appear that the Michigan Department of Environmental Quality has been guided through a process that does not put the people’s best interest first.”

    DEQ e-mails obtained through the state’s Freedom of Information Act show MEDC became involved after Gov. Rick Snyder and MEDC president and CEO Mr Michael Finney attended an opening ceremony for revamped Severstal facilities in Dearborn in June 2012, where steel plant CEO Mr Sergei Kuznetsov expressed his concerns about pollution permit requirements.

    Mr Amy Banninga MEDC state business ombudsman said she acted only as a conduit of communication for Severstal officials with the DEQ as the factory sought permission to emit higher levels of pollutants, while avoiding current air regulations and instead operating under 2006 rules. But DEQ e-mails show Mr Banninga at times setting the agenda for meetings involving Severstal and the DEQ.

    Severstal has been cited more than 20 times by the DEQ and EPA for pollution violations since 2010, including ongoing, unresolved exceedances. Dearborn’s South End neighborhood, with Severstal and several other factories nearby, has chronic air quality problems.

    Source - Freep.com
  14. Fartknock 9 mei 2014 07:05
    Luxembourg, May 9, 2014 - ArcelorMittal (referred to as “ArcelorMittal” or the “Company”) (MT (New York, Amsterdam, Paris, Luxembourg), MTS (Madrid)), the world’s leading integrated steel and mining company, today announced results[1] for the three month period ended March 31, 2014.

    Highlights:
    Health and safety: LTIF rate[2] of 0.85x in 1Q 2014 as compared to 0.93x in 1Q 2013
    EBITDA[3] of $1.8 billion in 1Q 2014, a 23% improvement as compared to 1Q 2013 on an underlying basis[4]; EBITDA/t increased in all steel segments with the exception of NAFTA which was negatively impacted by extreme weather
    Net loss of $0.2 billion in 1Q 2014 as compared to a net loss of $0.3 billion in 1Q 2013
    Steel shipments of 21.0Mt, an increase of 2.4% as compared to 1Q 2013
    14.8 Mt own iron ore production as compared to 13.1 Mt in 1Q 2013; 9.3 Mt shipped and reported at market prices[5] as compared to 7.3 Mt in 1Q 2013
    Net debt[6] of $18.5 billion as of March 31, 2014 an increase of $2.4 billion during the quarter due to investment in working capital and other payables ($1.3 billion), the early redemption of perpetual securities ($0.7 billion), M&A ($0.2 billion) and foreign exchange ($0.1 billion)

    Key developments:
    AM/NS Calvert: In partnership with Nippon Steel & Sumitomo Metal Corporation, the acquisition of ThyssenKrupp Steel USA, a steel processing plant in Calvert, Alabama, was completed on Feb 26, 2014 for a purchase price of $1.55 billion
    Mining: opportunity to stretch iron ore production capacity from current target of 84Mt by end 2015 to 95Mt has been identified, due to additional 5Mtpa potential at Liberia and additional 6Mtpa potential at ArcelorMittal Mines Canada

    Outlook and guidance framework:
    Based on its guidance framework, the Company continues to anticipate 2014 EBITDA of approximately $8.0 billion, assuming:


    a) Steel shipments increase by approximately 3% in 2014 as compared to 2013
    b) Marketable iron ore shipments increase by approximately 15%
    c) The iron ore price averages approximately $120/t (for 62% Fe CFR China)
    d) A moderate improvement in steel margins
    Net interest expense is expected to be approximately $1.6 billion for 2014
    Capital expenditure is expected to be approximately $3.8-4.0 billion for 2014
    The Company maintains its medium term net debt target at $15 billion

    corporate.arcelormittal.com/news-and-...
35.173 Posts
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