ArcelorMittal Remains Positive On The Medium/Long-Term Steel Demand Outlook; Expects Capex In 2024 To Remain Within The $4.5B-$5B
Portfolio Pulse from Benzinga Newsdesk
ArcelorMittal projects a positive medium/long-term outlook for steel demand, expecting a growth in World ex-China apparent steel consumption by +3.0% to +4.0% in 2024 compared to 2023. The company anticipates varied demand dynamics across key regions, with growth in the US, Europe, Brazil, and India, but stable to slightly positive demand in China. Capex for 2024 is anticipated to be within the $4.5-$5.0 billion range, with a portion allocated for strategic growth.
February 08, 2024 | 6:18 am
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ArcelorMittal expects a positive demand outlook for steel, with growth in key regions and a capex plan of $4.5-$5.0 billion for 2024, indicating strategic growth and strong market positioning.
ArcelorMittal's positive outlook on steel demand and strategic capex plan for 2024 suggest a strong market position and potential for growth. This optimism, especially in key regions, is likely to positively influence investor sentiment and the stock price in the short term.
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