Company Of The Day: ArcelorMittal
What?
ArcelorMittal (NYSE:MT) is implementing a Euro 50 (about $58) per ton surcharge on its long products in Europe to help pass on rising energy costs, per a report from Argus Media.
Why?
Relevant Articles
- Has ArcelorMittal Stock Lost Its Sheen?
- Will ArcelorMittal’s Top Line Gain Momentum In 2022?
- What Has Driven ArcelorMittal Stock Down?
- Why Has ArcelorMittal Stock Seen A Double-Digit Drop In A Month?
- ArcelorMittal Stock Jumps 60% – Will The Momentum Continue?
- What’s Behind ArcelorMittal Stock’s 33% Rally?
ArcelorMittal says that electricity and natural gas cost increases have added Euro 120 (about $139) per ton to the cost of steel production, with suppliers for other raw materials including limestone asking for surcharges.
So What?
MT stock rose by about 1.5% in Thursday’s trading the NYSE, likely driven by this news.
See Our Complete Analysis For ArcelorMittal
Invest with Trefis Market-Beating Portfolios
See all Trefis Price Estimates