Trimestrale di ArcelorMittal... buona soprattutto la crescita del fatturato e del livello di utilizzo degli impianti... Tirano soprattutto i mercati emergenti.
Il loro problema attuale è quello di riuscire a scaricare la risalita dei prezzi del minerale ferroso, sostenuti dai consumi cinesi, sulla propria clientela ed in specie sui produttori di auto, visto che non solo questi ultimi, sia per la ciclicità della crescita economica che li vede beneficiare sul piano del pricing ben più tardi dei produttori di semilavorati in acciaio, sia perché gl incentivi varati in molte economie mature, avendo anticipato la domanda nello scorso anno, prolungheranno i tempi in cui una eventuale ripresa economica si rifletterà negli ordini degli automakers...
- APRIL 29, 2010, 5:22 A.M. ET
ArcelorMittal Swings to Profit
LONDON—
ArcelorMittal, the world's largest steelmaker by volume and revenue, Thursday swung to a first-quarter net profit as shipments rose, and said it will boost production due to a continuing recovery in demand.
ArcelorMittal forecasts global steel demand to rise by 10% in 2010, led by emerging market growth, and said it is boosting capacity utilization to 80% in the second quarter from 72% at the end of the first.
Net profit for the three months ended March 31 was net profit of $679 million, compared with a net loss of $1.06 billion in the year-earlier period. This beat analysts' expectations of a net profit of $470 million, according to a Dow Jones Newswires poll of 12 analysts.
Revenue rose 23% to $18.65 billion from $15.12 billion.
"The economic recovery is continuing in line with our expectations and 2010 is set to be a stronger year for ArcelorMittal," said Chief Executive Officer
Lakshmi Mittal. "The year has started with improved demand in all main markets, which will have a positive impact in the second quarter."
The company's primary focus right now is how it will pass on the rise in raw material costs and it is currently in discussions with customers such as auto makers on how it will best do this, Chief Financial Officer
Aditya Mittal said.
Iron ore prices are up significantly on the spot market and the three largest producers of the mineral, key to making steel, announced in the past months that they are concluding the majority of their contracts on a quarterly basis, a change from their longtime practice of using an annual benchmark. Steelmakers have complained this will make prices more volatile.
ArcelorMittal said it is discussing with customers the possibility of changing the way steel products are contracted to get in line with the new iron ore system.
"The steel sector has been subdued this year because of rising iron ore and coal prices; however, these are being passed on and we see upside from here," said
Collins Stewart analyst Imran Akram.
