ArcelorMittal (MT)

[Saving Grace]

Steel futures are soaring on the Dalian exchange. Much more upside coming fast.

[diannedawn]

Wow...you had it worse than me.
Glad it worked out for us both.

It's nice to see the miners moving up.
Sadly, I have been holding some for quite awhile,
but I was able to average down,
so I am happily green again.

:)

[dirkv]

Yes after calling and calling and ... more than 20 emails.

[diannedawn]

I had a disturbing experience with my rights...
I called scottrade on the 28th...told them I wanted to exercise my rights...
the guy I spoke with gave me an approximate $ amount I would need...
which I then transferred in to both my accounts.
I waited...no shares...
Finally on the 13th my rights disappeared...still no shares.
On the 15th I called...
was told they'd look into it...
they didn't call back.
I called again this morning and after going through the whole thing AGAIN
with several people, FINALLY got my shares in my account.

Apparently, someone screwed up...
to their credit, they did at least make it right.
I would have been extremely POed if they had not.

I hope you finally got yours.

[detearing]

Boldly holding several steel sector stocks...big day today!

[detearing]

Boldly holding several steel sector stocks...big day today!

[Saving Grace]

Kramer put a good plug in for steel and iron ore saying a high tide raises all ships in the sector.

The RSI is getting a bit high indicating a pull back.

CLF and AKS just breached the overbought condition and MT is right on the verge.

http://www.stockta.com/cgi-bin/analysis.pl?symb=mt&table=rsi&mode=table

[detearing]

Looking strong despite headwind negative outlook from media. Holding strong.

[Saving Grace]

PITTSBURGH, March 15, 2016 /PRNewswire-USNewswire/ -- The United Steelworkers (USW) union today commended the U.S. Department of Commerce (DOC) for its preliminary decision to place antidumping duties on unfairly traded hot-rolled flat steel from seven countries.

The trade case, filed by six U.S. steel companies last August, charges producers in Australia, Brazil, Japan, Korea, the Netherlands, Turkey and the United Kingdom with violating international trade regulations by improperly subsidizing their steel producers and by dumping hot-rolled steel at below market prices in the U.S. market.

"With more than 12,000 ongoing layoffs across the American steel and iron ore mining industry, plus tens-of-thousands of steelworkers jobs depending on this decision -- it sends a strong signal that our government will enforce international trade laws to defend American manufacturing jobs," said Leo W. Gerard, USW International President.

"The domestic steel sector is facing a crisis caused by a flood of unfairly priced imports and by global overcapacity, which is largely fueled by China," Gerard added.

"We will continue to push this administration and those candidates vying for the White House to do everything possible to defend manufacturing jobs from illegal trade practices."

Gerard declared: "If we allow illegal trade practices to choke the American manufacturing sector and its workers, we foolishly undermine our country's ability to compete globally, and dangerously undermine our national security."

The petitions of the domestic steel companies against hot-rolled steel imports said illegal trade practices facilitated imports from all seven countries to rise 73 percent from 2012 to 2014. In today's preliminary finding, the DOC found anti-dumping margins in a range of 3.97-7.33 percent for Korea to 49.05 percent for United Kingdom.

The duty margins indicate hot-rolled steel imports were being sold at a price that is either below the cost of producing the product, or sold at a price below that producer's domestic price.

Tom Conway, USW International Vice President who is responsible for national steel sector contract bargaining, said: "Our members have the skills and are ready to mine the iron ore and to make the steel for cars, appliances, high speed rail, skyscrapers and America's infrastructure.

"Dumped and unfairly subsidized foreign imports destroy those jobs and destabilize our country's manufacturing and mining sector."

The six steel corporations that filed the petition are: AK Steel Corp., Ohio; ArcelorMittal USA LLC, Ill.; Nucor Corporation, N.C.; SSAB Enterprises, LLC, Ill.; Steel Dynamics, Inc., Ind., and U.S. Steel Corp., Pa.

The steel companies reported that imports from these countries during the January through May 2015 period rose an additional 54 percent over that same time period in 2014. Earlier this year, the DOC issued a preliminary determination in the investigation on subsidies that Brazilian producers of hot-rolled steel would be subject to countervailing duties of 7.42 percent.

Today's preliminary antidumping order on hot-rolled steel is a critical step in one of three separate high profile steel trade cases. The other two USW-supported cases against imports still being investigated are cold-rolled and corrosion-resistant steel.

Hot rolled steel is primarily used in appliances, automotive products, heavy machinery, machine parts, nonresidential construction and transportation equipment. A small portion is further processed into cold-rolled and galvanized or plated steel products.

With the DOC's preliminary margins, U.S. Customs and Border Protection will require cash deposits for the potential duties until the U.S. International Trade Commission (ITC) makes a final decision. The next steps in the hot-rolled steel case will be a final determination by the DOC in late July and a final vote by the ITC in September.

The USW represents 850,000 workers in North America employed in many industries that include metals, rubber, chemicals, paper, oil refining and the service and public sectors. For more information: http://www.usw.org/.

Contact: Gary Hubbard, 202-256-8125; [e-mail]
Roy Houseman, 202-778-4384; [e-mail]

Logo - http://photos.prnewswire.com/prnh/20080131/DC12982LOGO



SOURCE United Steelworkers (USW)


http://www.prnewswire.com/news-releases/usw-praises-doc-for-duties-on-hot-rolled-steel-imports-300236792.html

[Saving Grace]

MT Share Lock up agreement 3/15/16

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11257717

[dirkv]

Has everybody received his rights??

I'm still waiting.

[Saving Grace]

WoW! 4 million in vol in first 10 minutes!

Hot rolled tariffs happening today with other steel products just the same.

[Florida_or_bust]

I think 2.50 will be a nice entry here. Could go lower. We will see after they post end of year results.

[detearing]

Looking good today up close to 10%!

Weakening Dollar making me holler, come on let's go daddio!

$$$$

[BAD HEMPER]

Backing up the truck here on this weakness.

[detearing]

Ross is the key to success in turning around MT. MT has tremendous upside, IMO. Can move up fast...my bet with a lot of sweat.

Wilbur L. Ross, Jr. (November 28, 1937)[2] is an American investor known for restructuring failed companies in industries such as steel, coal, telecommunications, foreign investment and textiles. He specializes in leveraged buyouts and distressed businesses. As of August 2014, Forbes magazine lists Ross as one of the world's billionaires with a net worth of $2.9 billion.

https://en.wikipedia.org/wiki/Wilbur_Ross

[detearing]

Began a position today here with MT. Tremendous upside if this is near bottom.

[Davidsr9345]

$MGW updating website and pending health canada approval, theres no board here for them yet though

[Surfer604]

Need this consolidation. This hasn't even started! Glta

[Shaka_Zulu]

Target 12.89

[Mjmillions]

Very nice!

[WallWeeD]

Yes they do

[Mjmillions]

Does this company hold a license to grow in Canada?

[realtorwsm]

We're on the way back

[dav1234]

ArcelorMittal estimates lowered ahead of Q1 report at Deutsche Bank
Deutsche Bank lowered ArcelorMittal estimates to reflect lower steel prices and higher costs. The firm's Q1 estimate is in-line with the Street. Shares are Hold rated with a lowered price target to $16.

[dav1234]

sector crap and concerns over economic growth in china i think

[kmx_swing]

wow, anything particular has happened?

[dav1234]

14 lod

[dav1234]

ArcelorMittal (MT) -5.1% premarket after announcing plans for a combined offering of common stock and mandatorily convertible subordinated notes to raise ~$3.5B; proceeds will be used to reduce debt. Also, the steel maker will restart one of its blast furnaces at its plant in Dunkerque, France, due to increased customer demand.

[Impact007]

Mr Mittal owns the majority of it that's why.

[CammieCam]

Why is institutional ownership so low? I notice on NUE institutions own about 70%, but on MT they only own 2.6%.. Anyone know ?

I am long at about 17 bucks.

[ScovilleUnits]

Some MT charts ...

From the beginning…

From 2008…

From July 2011 …

2 Months

Hummmm...?

GLTA!
Scov

[diannedawn]

"ArcelorMittal (“ArcelorMittal”) today announced the commencement of an offer (the “Offer”) to purchase for cash any and all of its notes (the “Notes”) of the series set forth in the table below. The Notes have an aggregate principal amount outstanding of US$1,500,000,000.

ArcelorMittal is making the Offer in order to retire all or a portion of the Notes prior to their maturity."

This is GOOD NEWS...right?

Why no action?

[dav1234]

me likey, since 14/15 area, long for the divi and some trades, nice $1 swing from yesterday too

[diannedawn]

How come no one but me likes this stock?
:(

Ya don't know what your missing...

[Flyy]

Shares Upgraded to a “Buy” Rating

http://localizedusa.com/2011/10/11/arcelormittal-adr-mt-shares-upgraded-to-a-buy-rating-by-dahlman-rose-analysts/

[Flyy]

Today is looking strong, highly outperforming the major indices and climbing to high 17s, keep up the positive outlook

[Flyy]

Demand is still steady, they can focus on 3rd world to increase revenue as demand has faltered some in the UK imo. Its good that this established all over the world.

http://www.metalbulletin.com/Article/2908751/Flat-products/Higher-demand-sees-ArcelorMittal-Temirtaus-crude-steel-output-rise-15.html

[Flyy]

Volume increasing in preparation for more green days to follow imo.

http://www.tradershuddle.com/20110929156207669/Tech-Corner/ArcelorMittal-Higher-With-High-Volume.html

News and outlook is still very positive, looking good.

http://www.fnno.com/story/market-movers/331-shares-arcelormittal-receive-boost-42-market-movers

[Flyy]

Going strong, in conjunction with the major indices

[Hostile Takeover]

There are many great buys now. This is a great company for sure, and an optimum purchase now.

[Flyy]

today's upwards trends will soon put this back on track at 20+ imo. Very nice upwards momentum today. 2X increase over DOW % so far

[highonstock]

Same as hostile...

[highonstock]

Quick double huh? I like it :)

[highonstock]

IMO the Europe situation is priced into this, any positive info coming from that region of the world will improve this stock significantly. I've purchased my fair share over the past few days, too good to pass up IMO.

[Flyy]

I think analysts projections are soon to fall in line and rebound is in the works:

9/23/11:
"In the past 52 weeks, shares of ArcelorMittal have traded between the current low of $14.77 and a high of $38.88 and are now at $15.54. Over the last five market days, the 200-day moving average (MA) has gone down 1.1% while the 50-day MA has declined 5.3%.

Potential upside of 108.2% exists for ArcelorMittal, based on a current level of $15.35 and analysts' average consensus price target of $31.97. The stock should find initial resistance at its 50-day moving average (MA) of $23.64 and further resistance at its 200-day MA of $32.46."

http://www.fnno.com/story/52-week-high-lows/331-arcelormittal-looks-continue-trade-below-its-annual-low-share-price-today-52-week-high-lows-0

[Flyy]

They aren't even in a bad position imo.
They are prepared to weather a storm this time around, even in worst case scenario of a double dip:

"BRUSSELS, Sept 23 (Reuters) - - ArcelorMittal , the world's largest steelmaker, said it would weather a possible new recession better than in 2008/2009 because of savings made to date, a healthier balance sheet and its expansion into mining.

The Luxembourg-based group told investors on Friday that its core profit (EBITDA) would be higher than in 2009 if the developed world fell back into recession next year."

link: http://www.reuters.com/article/2011/09/23/arcelormittal-idUSLDE78M02I20110923


Also regarding MT:
http://www.reuters.com/article/2011/09/23/arcelormittal-china-idUSWLA594120110923

[highonstock]

This PPS is downright crazy for the worlds largest steel company. Even in 2008 early 2009 it never hit this low.

[Flyy]

Newcommers: read Hostile's posts

[Flyy]

This stock is at its bottom imo, all good news and up indicators:

http://seekingalpha.com/article/294968-5-stocks-to-buy-next-in-september


http://www.bloomberg.com/news/2011-09-19/arcelormittal-s-first-indian-steel-plant-may-beat-posco-project.html