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voda 11 november 2019 16:15

0

Beursblik: Fitch verlaagt outlook ArcelorMittal

FONDS KOERS VERSCHIL VERSCHIL % BEURS
ArcelorMittal
15,494 0,012 0,08 % Euronext Amsterdam

(ABM FN-Dow Jones) Fitch Rating heeft maandag de outlook voor ArcelorMittal verlaagd van stabiel naar negatief en handhaafde de kredietwaardigheid van de staalreus op BBB-.

De neerwaartse bijstelling van de outlook is te wijten aan de verslechterde ontwikkelingen op de staalmarkt als gevolg van een afname van de industriële productie, een zwakke vraag binnen automotive, handelsspanningen en druk vanwege de toegenomen kosten van grondstoffen. Bovendien bewegen de staalprijzen zich anders dan de prijzen van andere grondstoffen, hetgeen op de marges van ArcelorMittal drukt.

Fitch handhaafde wel de kredietwaardigheid van de staalreus, vanwege de verwachting dat ArcelorMittal voldoende actie onderneemt om een positieve vrije kasstroom te blijven genereren. Het kredietbureau wees onder meer op het terugschroeven van de kapitaaluitgaven en de staalcapaciteit, desinvesteringen ter waarde van 2 miljard dollar, kostenbesparingen en het afzien van de overname van Ilva.

Het aandeel ArcelorMittal koerste maandagmiddag 0,1 procent lager op 15,47 euro.

Door: ABM Financial News.
info@abmfn.nl
Redactie: +31(0)20 26 28 999

© Copyright ABM Financial News B.V. All rights reserved.

voda 11 november 2019 16:17

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Beursblik: China zorgt voor solide vraag naar grondstoffen

(ABM FN-Dow Jones) Met name China biedt voor de lange termijn een solide basis voor de vraag naar grondstoffen. Dit concludeerde Casper Burgering, econoom Metalen & Agrarische Grondstoffen van ABN AMRO in een sectorrapport.

Hoewel de BRICS, de opkomende markten Brazilië, Rusland, India, China en Zuid-Afrika, zich volgens de econoom de afgelopen decennia hebben ontwikkeld tot echte zwaargewichten op zowel economisch als grondstoffengebied, spannen met name China en India de kroon.

China is een belangrijke motor van wereldwijde economische groei, terwijl India volgens Burgering dat op het punt staat om de status van snelst groeiende economie definitief van China over te nemen. De groei van de vraag naar grondstoffen in deze twee landen biedt een solide basis voor de komende jaren, zei de econoom.

"Voor de lange termijn zal [met name] het Belt & Road-initiatief van China - dat zich richt op connectiviteit en samenwerking tussen Euraziatische landen - een solide basis vormen voor de vraag naar grondstoffen", voorziet Burgering.

Tot slot wees de econoom van ABN AMRO erop dat het gecombineerde aandeel van BRICS in de wereldeconomie verder zal toenemen, waarbij China voorop gaat, maar India ook steeds meer zijn stempel zal drukken op de wereldeconomie en grondstoffenmarkt.

Door: ABM Financial News.
info@abmfn.nl
Redactie: +31(0)20 26 28 999

© Copyright ABM Financial News B.V. All rights reserved.

voda 11 november 2019 16:44

0

Italian Government Tussle with ArcelorMittal over Ilva Deepens

5-Star Movement leader & Italian Prime Minister Mr Giuseppe Conte visited Ilva steel plant at Taranto after ArcelorMittal announced it would walk away from a deal to buy the heavily polluting site, leaving its future in the balance. Mr Conte accused the steel giant of acting in ill faith and said the real reason it wanted to quit Italy is because it no longer thought its industrial plan is viable and is seeking 5,000 job cuts at Ilva to meet its financial goals. During his visit, Mr Conte was challenged by some citizens who said they want the plant closed after the spate of cancer cases.

Italy’s Foreign Minister Mr Luigi Di Maio told "ArcelorMittal is going back on the agreement to take over the facility. The old consortium to take over ILVA no longer exists. We must oblige ArcelorMittal to stay in Taranto. Dialogue is fine, but without threats. ArcelorMittal knew they would face a government that demanded the pacts be respected. Asking to leave Taranto is an unacceptable act that is not the basis for dialogue. Putting 5,000 people out of work seems absurd to me.”

Italy’s Industry Minister Mr Stefano Patuanelli also accused ArcelorMittal of trying to fool the Italian State and said the penal shield was just an alibi for wanting to pull out for other reasons. He said “Even if it stays on, ArcelorMittal reportedly wants to cut 5,000 jobs across the former ILVA group, which includes other smaller plants in Genoa and Novi Ligure.”

On the other hand, unions at Taranto staged a one-day strike on Friday to protest over the crisis. They have accused the government of providing ArcelorMittal with an excuse to abandon Ilva by binning the legal shield which was given to the previous, state-controlled administrators.

Source : Strategic Research Institute

Bijlage:

voda 11 november 2019 16:46

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Chinese Jingye Group Frontrunner to buy British Steel

The Guardian reported that Chinese industrial giant Jingye Group has emerged as the frontrunner to buy British Steel after talks stalled between government officials and Turkish Ataer Holdings. A message sent to British Steel staff indicates that the Official Receiver expects to shake hands on a sale to Jingye imminently. The email cited 10 November as the target date for exchanging contracts on the deal but that deadline has now slipped. Mr Sam Woodward, a special manager from accountancy EY who is assisting the Official Receiver, wrote “As you are aware, Jingye has been undertaking accelerated due diligence for the last two weeks, and I am pleased to advise that it is progressing well. As many of you may know, we have been working towards a target date of exchanging contracts by 10 November 2019 and we are all working hard to keep to that timescale.”

The Official Receiver, which originally set that deadline, is willing to push the process into next week, if there are signs a deal is imminent. Talks have continued over the weekend, with Jingye increasingly likely to win the race. In the memo to staff, the special manager promised an update on Monday but warned that the signing of contracts would not mean that the sale is fully complete.

Jingye was founded 30 years ago by Li Ganpo, a former Communist party official who built the group from scratch in a corner of the Hebei province that is famed for the role it played in the establishment of the People’s Republic of China.

Source : The Guardian

voda 11 november 2019 16:47

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Acerinox to Acquire VDM Metals from Lindsay Goldberg Vogel & Falcon Metals

Spain based leading stainless steel manufacturer Acerinox SA has reached an agreement for the acquisition from Lindsay Goldberg Vogel GmbH & Falcon Metals BV of VDM Metals Holding GmbH, with headquarters in Germany and leader producer of specialty alloys. The deal has concluded in the acquisition agreement valued at EUR 532 million. Acerinox will pay EUR 310 million and will assume debt for an amount of EUR 57 million and pension plans and other liabilities for an amount of EUR 165 million. Acerinox will use its existing financing lines available for this acquisition.

With this deal, the Acerinox Group is looking to diversify into higher value added sectors. VDM Metals represents a great opportunity for Acerinox to grow into new markets and growing sectors such as aerospace, chemical industry, medical industry, oil and gas and renewable energies, water treatment and emissions control. Following completion of the transaction, Acerinox will focus its efforts on the integration of both companies in order to extract the full value of expected synergies. The incorporation of VDM Metals to the Acerinox Group will increase the net sales and EBITDA by over 20%.

Closing of the acquisition is subject to the approval, among others, of the European and US antitrust authorities and it is expected to take place by late Q1 2020.

Acerinox has been advised in this deal by Goldman Sachs International, KPMG and Linklaters.

Source : Strategic Research Institute

voda 11 november 2019 16:48

0

Iron Ore Supply to Steel Makers to be disrupted - FIMI

Federation of Indian Mineral Industries has warned that with the mining leases of 329 private mines slated to expire on March 31 iron ore supplies will be the worst hit. FIMI Secretary General Mr RK Sharma said “Raw material for steel industry, iron ore, would be the worst hit, since out of 329 mines 232 are of iron ore alone, 24 operative and 208 non operative iron ore mines. Things are not that simple as the government might be thinking. It is going to be a panic situation for a lessee if it is not able to retain the mine.”

The mining leases of 48 operative mines, 24 in Odisha, 6 each in Jharkhand and Karnataka, 5 in Gujarat, 3 in Andhra Pradesh, 2 in Rajasthan, and one mine each in Himachal Pradesh and Madhya Pradesh, will expire on March 31,2020. Mining leases of 184 non operative mines in Goa, 42 in Karnataka, 12 each in Jharkhand and Madhya Pradesh, 9 in Maharashtra, 7 in Odisha, 6 each in Andhra Pradesh and Gujarat, 2 in Rajasthan, one in Himachal Pradesh will also expire.

Source : Strategic Research Institute

voda 11 november 2019 16:48

0

NMDC to ink Iron Ore Supply MoU with AP for Kadapa Steel Plant

India’s Steel Minister Mr Dharmendra Pradhan has assured the Andhra Pradesh government of iron ore linkage for the proposed steel plant in Kadapa. As per media reports, assurances were given to AP CM Mr Jagan Reddy that public sector iron ore miner NMDC would soon sign an MoU with the state government for the iron ore supply

Mr Jagan had on July 8 announced that a new steel plant would be set up in Kadapa district, foundation for which would be laid on December 26. According to the Chief Minister, the proposed plant would be completed within three years and provide employment to about 20,000 people.

The steel plant issue was incorporated in the AP Reorganisation Act, 2014 with the Centre promising to explore the feasibility of establishing it.

Source : Strategic Research Institute

voda 11 november 2019 16:49

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RINL Possesses Very High Technical Capability - Steel Minister

The Union Minister of Petroleum, Natural Gas and Minister of Steel, Mr Dharmendra Pradhan made his maiden visit to RINL Visakhapatnam last week. He visited the Model Room, Blast Furnace-3, Steel Melt Shop-2, Wire Rod Mill etc and he was apprised of the latest technology incorporated in the plant, expansion and modernization of RINL. Steel Minister said that RINL has very high technical capability and the employees potential has already been recognized by the Ministry of Steel.

Regarding raw material security, Mr Pradhan said that RINL has been aspiring for captive iron ore mines to face the competition and to reduce cost of production. He said that the Ministry of Steel is sincerely pursuing with the Odisha government regarding operationalization of iron ore mines of Orissa Mineral Development Company. The MOS is also trying to supply raw material at special price to RINL from OMDC and RINL would largely benefit from it.

Source : Strategic Research Institute

voda 11 november 2019 16:52

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Chinezen redden British Steel

Gepubliceerd op 11 nov 2019 om 16:35 | Views: 377

ArcelorMittal 16:33
15,56 +0,07 (+0,48%)

LONDEN (AFN/BLOOMBERG) - Het Chinese industriebedrijf Jingye Group neemt het in problemen geraakte British Steel over, inclusief het Nederlandse FN Steel in Alblasserdam. Daarover is volgens een Britse overheidswebsite een overeenkomst bereikt. Bij British Steel werken duizenden mensen.

Onlangs kwamen topbestuurders van Jingye al naar Groot-Brittannië om een bezoek te brengen aan British Steel. Volgens omroep BBC hebben de Chinezen voor meer dan 1 miljard pond aan investeringen toegezegd. De nu bereikte deal moet nog worden goedgekeurd door toezichthouders. Ook spelen er nog enkele andere voorwaarden, waaraan moet worden voldaan.

Het Britse staalconcern stond in mei al op omvallen. Toen schoot de Britse overheid het bedrijf te hulp met een noodkrediet. De dreigende sluiting lag gevoelig in Londen, waar de aandacht de laatste tijd vooral uitgaat naar de brexit. In de zomer werd bekend dat het Turkse militaire pensioenfonds Oyak British Steel zou willen kopen. Die gesprekken liepen uiteindelijk stuk.

voda 11 november 2019 16:53

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Turkish Steel Makers Erdemir & Kardemir Net Profits Erode in Q3

2 major Turkish steel companies have reported severe erosion in profits in Q3 due to a shrinking domestic market, trade wars, concerns over global economic growth and a sharp fall in product prices. The third quarter net profits of Erdemir and Kardemir were down 41% and 18% respectively. Erdemir’s EBITDA margin in Q3 eroded to 19.7% YoY from 32.2% and Kardemir’s narrowed to 9.5% YoY from 37.9%. The decline in their profits was caused by sharp contractions in the construction, home appliances and automotive sectors, the main markets for the steel sector, as well a drop in steel prices despite rising iron ore prices.

According to data from the Turkish Steel Producers Association, steel product consumption in Turkey declined 25.8% to 18.9 million tonnes in the first nine months of the year.

Source : Strategic Research Institute

voda 11 november 2019 16:53

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CSPA Applauds CBSA Investigation into Corrosion Resistant Steel Sheet Imports from Turkey, UAE & Vietnam

The Canadian Steel Producers Association has welcomed Canada Border Services Agency’s investigation into the injurious dumping and subsidization of corrosion resistant steel sheet from Turkey, United Arab Emirates and Vietnam. CSPA President Ms Catherine Cobden said “Canada has an effective trade remedy system and a strong commitment to rules-based trade. It is critical to Canadian steel producers that we continue to use that system to ensure that unfairly traded imports are addressed. Canada’s domestic industry is negatively affected by these practices, so we see this as an important investigation for the sector, for our workers and for our communities.”

This is the second investigation into unfairly traded corrosion-resistant steel in Canada in the past 16 months. A previous investigation into this product from China, Chinese Taipei, India and South Korea resulted in the imposition of duties against these three countries earlier this year.

Source : Strategic Research Institute

voda 11 november 2019 16:54

0

US Steel Tubular Products Names Ms Vicki Hollub of Occidental Petroleum as Chief Roughneck

United States Steel Corporation’s subsidiary US Steel Tubular Products Inc announced that Ms Vicki Hollub, president and chief executive officer of Occidental Petroleum Corporation, is the recipient of the Chief Roughneck Award for 2019. The announcement was made at the 90th annual meeting of the Independent Petroleum Association of America. Ms Hollub has been a member of Occidental’s Board of Directors since 2015. During her 35-year career with Occidental, Ms. Hollub has held a variety of management and technical positions with responsibilities on three continents, including roles in the United States, Russia, Venezuela and Ecuador. Most recently, she served as Occidental’s President and Chief Operating Officer, overseeing the company’s oil and gas, chemical and midstream operations.

Ms Hollub serves on the boards of the American Petroleum Institute, Khalifa University for Science and Technology in Abu Dhabi, and Lockheed Martin. She is the chair of the US Secretary of Energy Advisory Board, the US chair for the US Colombia Business Council and a member of the World Economic Forum and the Oil and Gas Climate Initiative. A graduate of the University of Alabama, Ms Hollub holds a Bachelor of Science in Mineral Engineering. She was inducted into the University of Alabama College of Engineering 2016 class of Distinguished Engineering Fellows.

The prestigious Chief Roughneck Award was created in 1955 to honor the lifetime achievements of petroleum industry leaders in US by US Steel Tubular Products.

Source : Strategic Research Institute

voda 11 november 2019 16:55

0

Olympic Steel Reports Third Quarter Results

Leading US metals service center Olympic Steel Inc announced financial results for the three months ended September 30, 2019. Third-quarter 2019 net sales of USD 384 million were 16% lower compared with USD 457 million in the third quarter of 2018. Net sales were impacted by lower year-over-year shipping volumes and pricing within the carbon flat products segment. Net income was approximately USD 591 thousand in the 2019 third quarter, compared with USD 11.6 million. The specialty metals flat products segment continued to profitability grow its market share while sales in the tubular and pipe products segment outperformed the market.

Chief Executive Officer Mr Richard T Marabito said "While we anticipated the third quarter would be softer than the first half of the year, we are encouraged by the positive impact we are seeing from our strategy to diversify the business. Our specialty metals and pipe and tube businesses remained resilient in a challenging market environment. We also furthered our strategy of vertical integration during the third quarter through the acquisition of EZ Dumper®,a manufacturer of hydraulic truck dump inserts. This is our second acquisition in 2019 of manufacturers of higher-margin, metal-intensive branded products, which offer a countercyclical offset to the pricing dynamics of the steel distribution business. McCullough Industries, which we acquired earlier this year, continues to exceed our expectations by delivering EBITDA margins well above the levels earned through traditional service center business. We are committed to evaluating additional acquisition opportunities, and when there is a good fit, we have adequate capital available to pursue a transaction".

Source : Strategic Research Institute

voda 11 november 2019 16:56

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Canada Opens Probe on Steel Fasteners Imports from China & Taiwan

On October 28, 2019, the Canadian International Trade Tribunal initiated an expiry review of its order concerning the dumping of certain carbon steel fasteners originating in or exported from the People’s Republic of China and the Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu and the subsidizing of such goods originating in or exported from China. As a result of the CITT’s expiry review, the Canada Border Services Agency has initiated an expiry review investigation to determine whether the expiry of the order is likely to result in the continuation or resumption of dumping and/or subsidizing of the subject goods. The CBSA will make a determination no later than March 26, 2020, and will issue a Statement of Reasons by April 9, 2020.

The subject goods are defined as certain carbon steel fasteners. The subject goods are usually classified under the following tariff classification numbers
7318.11.00.00
7318.12.00.00
7318.14.00.00
7318.15.00.10
7318.15.00.42
7318.15.00.45
7318.15.00.49

As part of its investigation, the CBSA forwarded questionnaires to Canadian producers, importers, exporters/foreign producers and to the Government of China. Any Canadian producers, importers or exporters/foreign producers who have not received a letter from the CBSA who wish to provide a response to the questionnaire are advised to contact the officers identified below. Responses to all questionnaires are due at the CBSA’s office in Ottawa by December 5, 2019.

Source : Strategic Research Institute

voda 11 november 2019 16:56

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US Steel Cuts Jobs at Minntac and Keetac Plants

US Steel has eliminated several jobs at two Iron Range-based taconite plants. US Steel’s spokesperson Amanda Malkowski said “It is taking the difficult step to eliminate a number of non-represented positions in the United States, including at our Minntac and Keetac facilities. Unfortunately, this is a necessary step in the execution of our strategy which will deliver cost and capability differentiation to create a world competitive best of both footprint. It’s always difficult when we have to say goodbye to valued colleagues, but these moves will allow us to better manage our resources amid challenging market conditions.”

Local sources say that figure ranges 32 to 37 cuts. Minntac and Keetac employs about 2,200 union and non-union workers in Mountain Iron and Keewatin.

In mid-October, US Steel announced it would idle one of its production lines at Minntac due to a change in market conditions, but said layoffs were not expected.

Source : Strategic Research Institute

voda 12 november 2019 10:38

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Beursblik: UBS zet ArcelorMittal op kooplijst

FONDS KOERS VERSCHIL VERSCHIL % BEURS
ArcelorMittal
15,78 0,266 1,71 % Euronext Amsterdam

(ABM FN-Dow Jones) UBS heeft het advies voor ArcelorMittal verhoogd van Neutraal naar Kopen en het koersdoel opwaarts bijgesteld van 13,00 naar 18,00 euro. Dit bleek dinsdag uit een rapport van de Zwitserse bank.

De analisten van UBS verwachten dat de staalprijzen in de EU in het eerste kwartaal van 2020 gaan stijgen.

Voor 2020 verhoogde UBS de taxatie voor de EBITDA met 16 procent naar 6,4 miljard dollar. Dat is ongeveer 5 procent meer dan de consensus.

De huidige waardering van het aandeel ArcelorMittal is volgens UBS momenteel aantrekkelijk, met vijf keer de verhouding tussen ondernemingswaarde en EBITDA.

Het aandeel ArcelorMittal steeg dinsdag 1,4 procent naar 15,74 euro.

Door: ABM Financial News.
info@abmfn.nl
Redactie: +31(0)20 26 28 999

© Copyright ABM Financial News B.V. All rights reserved.

voda 12 november 2019 11:04

1

'Rome overweegt noodlening voor Ilva-fabriek'

Gepubliceerd op 12 nov 2019 om 10:59 | Views: 0

ArcelorMittal 10:45
15,67 +0,16 (+1,01%)

ROME (AFN) - De Italiaanse regering overweegt de Ilva-fabriek te redden met een overbruggingskrediet als staalconcern ArcelorMittal definitief afziet van de overname van de gigantische staalfabriek in Zuid-Italië. Dat schrijft de Italiaanse krant Il Messaggero, zonder te vermelden waar het die informatie vandaan heeft.

De lening zou 700 miljoen tot 800 miljoen euro bedragen. Dit moet de failliete fabriek draaiende houden terwijl curatoren er weer de controle overnemen. In dit 'plan B' zou Rome ook een nieuwe aanbestedingsprocedure beginnen voor de overname van Ilva.

De Italiaanse premier Giuseppe Conte zegt steeds pessimistischer te zijn over pogingen om ArcelorMittal te overtuigen toch door te gaan met de overname van Ilva. Eerder deze maand maakte ArcelorMittal bekend de fabriek in Tarente terug te willen geven aan Italië. Het intrekken van bescherming tegen milieuclaims rond de Ilva-fabriek was daar de reden voor, liet het bedrijf weten.

voda 12 november 2019 16:24

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ArcelorMittal SA to Shut Saldanha Steel Plant

Africa’s largest steelmaker ArcelorMittal SA has decided to put its Saldanha operation into care and maintenance after an operational review, with the group concluding that Saldanha has lost its structural competitive cost advantage, due mainly to high raw material costs and regulated prices. Mr Kobus Verster, Chief Executive Officer of ArcelorMittal South Africa, said “The Saldanha operations were founded and built on the premise of low input costs, which gave the operation a competitive cost advantage in export markets. Unfortunately, over the years, that structural cost advantage has been eroded and Saldanha can no longer sustainably and effectively compete in these markets, mainly due to raw material and regulated prices. Saldanha has incurred substantial losses in the past and the short- to medium-term outlook remains bleak.”

ArcelorMittal said “Despite the various initiatives that have been successfully implemented by the company to manage costs and optimise efficiencies, ArcelorMittal South Africa’s Saldanha Steel operation remains under extreme pressure. The board and management, which for some time have been considering various options to ensure the longer-term sustainability of the company, formally announced a strategic asset footprint review in September 2019. The outcome of the first phase of the review is to immediately begin the process of winding down Saldanha’s steel operations to curb any further losses. The process is expected to be completed during the first quarter of 2020.”

It added “Progress is being made with the next phase of the strategic asset footprint review, focusing on the Newcastle operations and certain of the long steel products rolling facilities with the objective of sustainably improving their structural cost position and service offering. Exploring the benefits of a concentrated operating footprint will be important during this phase of the review.”

Saldhana plant was commissioned in 1998 and has a capacity of about 1.2-million tonnes annually. The plant is distinguished by merging leading edge technologies to produce high quality ultra-thin Hot Rolled Coil of 1.6mm.

Source : Strategic Research Institute

Bijlage:

voda 12 november 2019 16:25

0

Jingye Steel to Acquire British Steel

British Steel’s Official Receiver and Special Managers from EY, Sam Woodward, Hunter Kelly and Alan Hudson, confirmed that contracts have been entered into with Jingye Steel (UK) Ltd and Jingye Steel (UK) Holding Ltd, to acquire the business and assets of British Steel Limited in liquidation, including the steelworks at Scunthorpe and UK mills and the subsidiary businesses of FN Steel, British Steel France and TSP Engineering. It is anticipated that the shares owned by BSL in Redcar Bulk Terminal Limited will also be included in the sale. They said “Completion of the contract is conditional on a number of matters, including the requisite regulatory approvals and certain employee consultation procedures. The parties are working together to conclude a sale as soon as reasonably practicable.”

They added “The business will continue to trade as normal, during the period between exchange and completion, whilst assisting Jingye to plan for the future. Support from employees, suppliers and customers since the liquidation has been a critical factor in achieving this outcome.”

Jingye is a privately owned Chinese corporation founded and led by Li Ganpo a former senior Communist Party official who became a self-made industrial tycoon. His Jingye Group has interests in steel and manufacturing, chemicals, real estate, finance, trade, pharmaceutical, hotels and tourism. It has more than 22,000 employees and assets valued at more than GBP 3 billion.

Turkish army pension fund Oyak said that its subsidiary Ataer Holding had ended talks to buy British Steel after deciding the acquisition was not commercially viable.

Source : Strategic Research Institute

voda 12 november 2019 16:26

0

Protection Possible for ArcelorMittal for Ilva - Italian PM

Italian Prime Minister Mr Giuseppe Conte said that his government would consider reintroducing guarantees of legal immunity for ArcelorMittal only if the steelmaker re commits to a contract to buy Ilva. He said in an interview with newspaper Il Fatto Quotidiano that “Only if Mittal changed his mind and told us that he would respect the commitments envisaged in the contract could the government) consider a new form of legal shield.”

He however added that the company had told him in a previous meeting that the problem was industrial and not judicial and that the group would have u-turned on the investment anyway.

Mr Conte said he would soon meet ArcelorMittal again over the future of the Ilva plant and that his government had already filed an urgent court appeal against their decision.

He added that Rome is convinced that its legal battle against ArcelorMittal has great chances of success.

Source : Strategic Research Institute

Bijlage:

Vertraagd	4 jun 2024 17:35
Koers	23,820
Verschil	-0,530 (-2,18%)
Hoog	24,380
Laag	23,810
Volume	3.024.340
Volume gemiddeld	2.635.200
Volume gisteren	3.362.128

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