ArcelorMittal Forecasts FY23 Global Ex-China Apparent Steel Consumption To Grow Between +1%-2% (Prior View +2%-3%) YoY
Portfolio Pulse from Benzinga Newsdesk
ArcelorMittal has revised its FY23 global Ex-China apparent steel consumption growth forecast to +1%-2% from the previous +2%-3%. In the US, due to the impact of interest rate rises, steel consumption in 2023 is expected to decline by -2.0% to 0.0%, down from the previous guidance of +1.5% to +3.5%. In Europe, Brazil, CIS region, and India, the company also adjusted its steel consumption estimates.
July 27, 2023 | 6:04 am
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ArcelorMittal's revised forecast indicates a slowdown in global steel consumption growth, which could negatively impact the company's revenues and stock price.
ArcelorMittal's revised forecast suggests a slowdown in global steel consumption growth. This could lead to lower demand for the company's products, potentially impacting its revenues and stock price. The company's stock price is likely to be negatively affected in the short term as investors react to the revised forecast.
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