ArcelorMittal Stock (NYSE:MT), Trade Ideas

ArcelorMittal

ArcelorMittal SA is involved in the steel industry. The company's operating segments include NAFTA; Brazil; Europe; ACIS; Mining and others. It generates maximum revenue from the Europe segment. Europe segment produces hot-rolled coil, cold-rolled coil, coated products, tinplate, plate, and slab. These products are sold primarily to customers in the automotive, general, and packaging sectors as well as also produce long products consisting of sections, wire rods, rebar, billets, blooms and wire drawing, and tubular products. Geographically, it derives a majority of its revenue from United States.

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Shares of  Skillsoft Corp. (NASDAQ: SKIL) fell sharply during Tuesday’s session after the company reported mixed fourth-quarter financial results and issued FY25 revenue guidance below estimates.

Why Skillsoft Shares Are Trading Lower By Around 27%? Here Are Other Stocks Moving In Tuesday&#39;s Mid-Day Session

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U.S. stock futures were mixed this morning, with the Dow futures gaining around 100 points on Tuesday.

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Loading,Of,Coal,Into,Truck.,Excavator,At,Work,.,Mining

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25 April 2024, 14:30 CET
ArcelorMittal (‘the Company') today announces the publication of its first quarter 2024 sell-side analyst consensus figures.
The consensus figures are based on analysts' estimates recorded on an external web-based tool provided and managed by an independent company, Visible Alpha.
To arrive at the consensus figures below, Visible Alpha has aggregated the expectations of sell-side analysts who, to the best of our knowledge, cover ArcelorMittal on a continuous basis. Sell-side analysts follow ArcelorMittal on their own initiative and ArcelorMittal is not responsible for their views. ArcelorMittal is neither involved in the collection of the information nor in the compilation of the estimates.
1Q'24 consensus estimates&#x2A;:
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;1Q'24&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li>EBITDA ($m)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1,814&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</li>
<li>Net income ($m)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $733&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</li>
<li>Earnings per share ($)&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; $0.91&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</li>
</ul>
&#x2A; Number of sell-side analyst participation is 6 brokers (i.e. those who have updated estimates in Visible Alphas and reflected the Groups new EBITDA definition and reportable segmentation).
2023 Factbook published
The Company has filed its 2023 Factbook reflecting the presentation of reportable segments and EBITDA for the following periods where applicable: FY 2021, FY 2022 and FY 2023 and quarters of 2022 and 2023. Company's published 2023 Factbook can be viewed <a href="https://www.globenewswire.com/Tracker?data=G5bqcRZL-qhhDaFstc95EsnvYqgYYFfTRvazC4vS_yvFOAxAPt3K4BgaOoFQULuQhRelmfN18wBkPkLuy3V8Occ88bluUCrR3LAMqk4ulhpnGSRxJF0zr0pb3E3ztBnXxWf0cHDnrPo2JQwHFW2gdMX3wTKfM5ObKeJzHyWO85Q=">here.</a>

Guidance

Analyst Ratings

ArcelorMittal S.A.: ArcelorMittal Announces Q1 2024 Sell-Side Analyst Consensus Figures Of EPS $0.91; Net Income $733M, EBITDA $1.814B

Contracts

U.S. Department Of Energy Announces Financial Support For ArcelorMittal's Electrical Steel Facility In Alabama; Awarded $280.5M In Investment Tax Credits From IRS

Shares of Skillsoft Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/skil#NASDAQ">SKIL</a>) fell sharply during Tuesday&rsquo;s session after the company reported mixed fourth-quarter financial results and issued FY25 revenue guidance below estimates.
Skillsoft posted adjusted loss of $3.09 per share, versus market estimates of $3.27 per share. The company&rsquo;s quarterly sales came in at $137.540 million versus expectations of $141.897 million.
Skillsoft shares dipped 26.7% to $6.74 on Tuesday.
Here are some other stocks moving in today&#39;s mid-day session.
<h3>Gainers</h3>
<ul>
<li>WiSA Technologies, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wisa#NASDAQ">WISA</a>) jumped 85% to $3.2379 after the company announced a 5-year WiSA E licensing agreement with an HDTV/PTV brand.</li>
<li>Palisade Bio, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pali#NASDAQ">PALI</a>) shares climbed 79.1% to $7.45 after the company announced the completion of analysis evaluating ex-vivo bioactivation of PALI-2108.</li>
<li>Jaguar Health, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/jagx#NASDAQ">JAGX</a>) shares gained 67% to $0.1989 after the company signed an exclusive 5-year in-license agreement with Venture Life Group for Gelclair.</li>
<li>Dynatronics Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dynt#NASDAQ">DYNT</a>) shares rose 44.4% to $0.5342 after dipping over 5% on Monday.</li>
<li>IMAC Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/back#NASDAQ">BACK</a>) surged 40% to $4.69.</li>
<li>Peraso Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/prso#NASDAQ">PRSO</a>) gained 38.8% to $1.75. Peraso recently announced that it received an additional $2.88 million purchase order.</li>
<li>Macatawa Bank Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mcbc#NASDAQ">MCBC</a>) rose 38.8% to $13.78 after Wintrust Financial Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wftc#NASDAQ">WFTC</a>) and Macatawa Bank announced that they have entered into a definitive merger agreement for Wintrust to acquire Macatawa in an all-stock transaction.</li>
<li>China SXT Pharmaceuticals, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sxtc#NASDAQ">SXTC</a>) jumped 29.9% to $1.52.</li>
<li>Dragonfly Energy Holdings Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dfli#NASDAQ">DFLI</a>) gained 26.7% to $0.57 after the company posted a profit for the fourth quarter.</li>
<li>Intra-Cellular Therapies, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/itci#NASDAQ">ITCI</a>) gained 24.1% to $80.39 after the company announced Lumateperone 42 mg once daily as adjunctive therapy to antidepressants met its primary endpoint.</li>
<li>Cullinan Oncology, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cgem#NASDAQ">CGEM</a>) jumped 20.4% to $19.93. The company announced its plan to expand into autoimmune diseases.</li>
<li>Taoping Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/taop#NASDAQ">TAOP</a>) shares gained 14.1% to $0.97 after dipping 20% on Monday.</li>
<li>BioSig Technologies, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bsgm#NASDAQ">BSGM</a>) climbed 13.1% to $1.2439.</li>
<li>NextNav Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nn#NASDAQ">NN</a>) gained 13.1% to $7.98.</li>
<li>UnitedHealth Group Incorporated (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/unh#NYSE">UNH</a>) jumped 6.2% to $473.20 following better-than-expected first-quarter earnings.</li>
<li>Contineum Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ctnm#NASDAQ">CTNM</a>) gained 6.1% to $15.50.</li>
<li>Telefonaktiebolaget LM Ericsson (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/eric#NASDAQ">ERIC</a>) rose 4.7% to $5.01 after the company reported better-than-expected first-quarter EPS results.</li>
</ul>
<h3>Losers</h3>
<ul>
<li>Barnes &amp; Noble Education, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bned#NYSE">BNED</a>) shares dipped 58.2% to $0.2947 after the company announced a short-term shareholder rights plan and a new equity investment.</li>
<li>Calidi Biotherapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cldi#NASDAQ">CLDI</a>) fell 54.8% to $0.2711 after the company announced the pricing of a $6.1 million public offering.</li>
<li>Nexalin Technology, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nxl#NASDAQ">NXL</a>) fell 46% to $1.07.</li>
<li>Pacific Biosciences of California, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pacb#NASDAQ">PACB</a>) fell 40.2% to $1.6999 after the company issued weak guidance.</li>
<li>Ryvyl Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rvyl#NASDAQ">RVYL</a>) fell 29.3% to $1.44 after the company announced the launch of a proposed underwritten public offering.</li>
<li>Beneficient (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/benf#NASDAQ">BENF</a>) dipped 25% to $0.0676. Beneficient announced a reverse stock split to regain compliance with Nasdaq&#39;s minimum bid price.</li>
<li>PainReform Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/prfx#NASDAQ">PRFX</a>) fell 23.3% to $0.7515 after the company priced its $4 million public offering.</li>
<li>Siyata Mobile Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/syta#NASDAQ">SYTA</a>) dipped 23.3% to $2.46. Siyata Mobile filed for offering of maximum of $4 million of common shares.</li>
<li>Kaival Brands Innovations Group, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/kavl#NASDAQ">KAVL</a>) fell 22.2% to $4.90.</li>
<li>ParaZero Technologies Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/przo#NASDAQ">PRZO</a>) fell 18% to $0.91 after the company announced its intention to enter the counter unmanned aircraft system market.</li>
<li>Complete Solaria, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cslr#NASDAQ">CSLR</a>) dipped 16.5% to $0.2167.</li>
<li>SolarMax Technology, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/smxt#NASDAQ">SMXT</a>) fell 13.4% to $12.91.</li>
<li>Addex Therapeutics Ltd (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/adxn#NASDAQ">ADXN</a>) declined 10.8% to $22.07 after falling around 3% on Monday.</li>
<li>Inovio Pharmaceuticals, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ino#NASDAQ">INO</a>) shares declined 10.3% to $9.87. INOVIO priced its $36 million underwritten offering of 2,536,258 common stock at $7.693 per share.</li>
<li>First Majestic Silver Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ag#NYSE">AG</a>) fell 10.2% to $6.72.</li>
<li>SciSparc Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sprc#NASDAQ">SPRC</a>) fell 10.1% to $1.33 after declining around 6% on Monday. The company recently announced the acquisition of AutoMax.</li>
<li>Qilian International Holding Group Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/qli#NASDAQ">QLI</a>) fell 9.1% to $0.6303 after declining around 8% on Monday.</li>
<li>ProFrac Holding Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/acdc#NASDAQ">ACDC</a>) fell 8.6% to $7.76.</li>
<li>Adlai Nortye Ltd. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/anl#NYSE">ANL</a>) declined 7.4% to $9.80.</li>
<li>Cartesian Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rnac#NASDAQ">RNAC</a>) fell 6.9% to $17.69.</li>
<li>MINISO Group Holding Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mnso#NASDAQ">MNSO</a>) fell 6.8% to $19.33.</li>
<li>ArcelorMittal SA (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mt#NYSE">MT</a>) shares fell 6.6% to $25.16 after Deutsche Bank downgraded the stock from Buy to Hold.</li>
<li>Live Nation Entertainment, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/lyv#NYSE">LYV</a>) fell 5.8% to $94.00 following a report indicating the Justice Department will file an antitrust lawsuit against the company.</li>
</ul>
&nbsp;
Now Read This: <a href="https://www.benzinga.com/news/earnings/24/04/38271269/dow-gains-over-100-points-bank-of-america-posts-upbeat-profit"> Dow Gains Over 100 Points; Bank of America Posts Upbeat Profit</a>

Why Skillsoft Shares Are Trading Lower By Around 27%? Here Are Other Stocks Moving In Tuesday's Mid-Day Session

U.S. stock futures were mixed this morning, with the Dow futures gaining around 100 points on Tuesday.
Shares of Live Nation Entertainment, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/lyv#NYSE">LYV</a>) fell sharply in today&rsquo;s pre-market trading following a report indicating the Justice Department will file an antitrust lawsuit <a href="https://www.benzinga.com/quote/LYV/analyst-ratings">against the company</a>.
Live Nation Entertainment shares dipped 7.8% to $92.02 in pre-market trading.
Here are some big stocks recording losses in today&rsquo;s pre-market trading session.
<ul>
<li>Inovio Pharmaceuticals, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ino#NASDAQ">INO</a>) shares dipped 24.3% to $8.32 in pre-market trading. INOVIO priced its $36 million underwritten offering of 2,536,258 common stock at $7.693 per share.</li>
<li>Groupon, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/grpn#NASDAQ">GRPN</a>) shares declined 8.9% to $9.11 in pre-market trading. Groupon said Italian tax authorities have placed a lien on Groupon S.r.l.&#39;s bank account, which currently restricts outgoing payments from that account.</li>
<li>Lyell Immunopharma Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lyel#NASDAQ">LYEL</a>) shares fell 7.1% to $2.23 in pre-market trading after dipping 20% on Monday.</li>
<li>ArcelorMittal SA (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mt#NYSE">MT</a>) shares fell 6% to $25.33 in pre-market trading after Deutsche Bank downgraded the stock from Buy to Hold.</li>
<li>Tevogen Bio Holdings Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tvgn#NASDAQ">TVGN</a>) shares declined 6% to $2.21 in pre-market trading following a 4% decline on Monday.</li>
<li>Lennox International Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/lii#NYSE">LII</a>) shares fell 5.8% to $434.82 in pre-market trading. Lennox is expected to report first quarter 2024 financial results before the opening bell on April 24, 2024.</li>
<li>Clean Energy Fuels Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/clne#NASDAQ">CLNE</a>) shares declined 5.6% to $2.20 in pre-market trading after falling around 5% on Monday.</li>
</ul>
&nbsp;
Now Read This: <a href="https://www.benzinga.com/news/earnings/24/04/38263545/johnson-johnson-likely-to-report-higher-q1-earnings-here-are-the-recent-forecast-changes-from-wall-"> Johnson &amp; Johnson Likely To Report Higher Q1 Earnings; Here Are The Recent Forecast Changes From Wall Street&#39;s Most Accurate Analysts</a>
Don&rsquo;t forget to check out our <a href="https://www.benzinga.com/premarket/"> premarket coverage here </a>

Live Nation Entertainment, Groupon And Other Big Stocks Moving Lower In Tuesday's Pre-Market Session

WIIM

ArcelorMittal shares are trading lower after Deutsche Bank downgraded the stock from Buy to Hold.

Deutsche Bank analyst Bastian Synagowitz downgrades ArcelorMittal (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MT#NYSE">MT</a>) from Buy to Hold and lowers the price target from $34 to $31.

Downgrades

Price Target

Deutsche Bank Downgrades ArcelorMittal to Hold, Lowers Price Target to $31

Top Stories for April 11, 2024:
1. Ivanhoe Electric (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IE#NYSE">IE</a>) and Saudi Arabian Mining Company Ma&#8217;aden&#8217;s joint venture completed its first quarter of exploration in Saudi Arabia, successfully conducting a 76 km2 Typhoon survey around the Al Amar mine.
Exploration identified drill-ready anomalies and Computational Geosciences processed the results, highlighting two high-priority areas.&nbsp;
The venture also finished constructing the first of three advanced Typhoon units, with plans to expand exploration in the Al Amar and Wadi Bidah regions.&nbsp;
CEO Taylor Melvin highlighted the survey&#8217;s success in identifying geological anomalies using Typhoon and machine learning, with drilling expected to begin by May&#8217;s end.
2. Metallus (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTUS#NYSE">MTUS</a>) (formerly TimkenSteel) joined the Global Steel Climate Council. This membership reflects Metallus&#8217;s ongoing efforts to collaborate with industry leaders in reducing greenhouse gas emissions and promoting a sustainable future. 
Metallus&#8217;s 2023 Sustainability Update highlights include over $10 million in health and safety investments and incorporating AI technology for workplace safety.
It also emphasizes circular economy principles through recycling and resource efficiency, ethical practices in environmental management and active community engagement through donations and volunteerism.&nbsp;
CEO Mike Williams highlighted the importance of this partnership in the company&#8217;s sustainability journey and its role in driving industry-wide positive change.
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3. ArcelorMittal (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MT#NYSE">MT</a>) announced a comprehensive safety audit by dss+ in December 2023, focusing on fatality prevention, process safety risk management and health and safety governance. 
An interim update three months into the nine-month audit highlighted its progress and outlines ongoing work, aiming for increased transparency.&nbsp;
Final recommendations are expected in September 2024, with further details to be included in the company&#8217;s 2024 integrated annual review.
4. BMO Capital analyst Kevin O&#8217;Halloran maintained Gatos Silver (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GATO#NYSE">GATO</a>) with a Market Perform rating and raised his price target from $8 to $9.
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Benzinga Mining is the bridge between mining companies and retail investors. Reach out to <a href="mailto:licensing@benzinga.com">licensing@benzinga.com</a> to get connected with the Benzinga community!
Photo: Shutterstock

Ivanhoe Electric Completes Q1 Drilling In Saudi Arabia; Metallus Invests $10M-Plus In Health, Safety; ArcelorMittal's Safety Audit And More: Thursday's Top Mining Stories

Offerings

Arcelor Mittal Files For Mixed Shelf Offering; Size Not Disclosed

While the multi-billion Nippon Steel&#8216;s (OTCPK: NISTF) acquisition of U.S. Steel (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>) remains one of the hot topics in an election year, smaller transactions are confirming the positive merger and acquisition trend in the <a href="https://www.benzinga.com/topic/steel">steel industry.</a>
Acerinox&#8216;s (OTCPK: ACRXF) U.S. subsidiary, North American Stainless (NAS), recently finalized the acquisition of Haynes International in an all-cash transaction. This acquisition, valued at approximately $970 million, reflects Acerinox&#8217;s commitment to strengthening its global leadership in the manufacturing and distributing of stainless steel and high-performance alloys.
"Haynes has impressive and complementary business operations, R&amp;D capabilities, and an experienced team. Their addition to Acerinox strengthens our global leadership in high-performance alloys and creates meaningful opportunities in the high-growth aerospace segment and the attractive U.S. market," <a href="https://www.acerinox.com/en/comunicacion/noticias/Acerinox-to-Acquire-Haynes-International/">said</a> Bernando Velazquez Herreros, CEO of Axerinox.
Now read: <a href="https://www.benzinga.com/news/24/03/37934431/vales-partnership-with-doe-signals-domestic-shift-toward-sustainable-steel-production">Vale&#8217;s Partnership With DOE Signals Domestic Shift Toward Sustainable Steel Production</a>
Meanwhile, the steel market witnessed significant consolidation in Canada with Varsteel&#8216;s acquisition of Pacific Steel, a well-established family business based in Quebec. As a leading steel and pipe service center, Varsteel continues expanding its product range and geographic footprint, looking to utilize Pacific Steel's strong presence in structural steel distribution and fabrication. After the acquisition of Seaport Steel in 2022, this Canadian company gained a foothold in Oregon, so it wouldn't be surprising to see a further expansion into the U.S. market soon.
The European market isn&#8217;t idling either, with global steel manufacturer ArcelorMittal (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MT#NYSE">MT</a>) taking a significant stake in Vallourec, a leading provider of tubular solutions for energy markets and industrial applications. 
The $1.03 billion (€955 million) investment gives ArcelorMittal a 28.4% stake, expanding the company&#8217;s presence in downstream, value-added segments of the steel market. Vallourec&#8217;s strong foothold in key markets such as the United States and Brazil, coupled with its focus on low-carbon production, aligns with ArcelorMittal&#8217;s long-term sustainability goals.
"Vallourec is a quality, high added-value tubular business, with established positions of strength in the attractive Brazilian and US markets," <a href="https://corporate.arcelormittal.com/media/press-releases/arcelormittal-acquires-strategic-stake-in-vallourec">said</a> CEO Aditya Mittal, clarifying the potential in the company's role to play in the energy transition and rapidly growing markets like hydrogen and geothermal applications.
In an environment with a relatively high cost of capital and escalating de-globalization and de-carbonization, the steel industry&#8217;s consolidation appears to be a logical outcome.
Expansion through strategic acquisitions, particularly into markets with strong public sector support (like Biden&#8217;s administration&#8217;s <a href="https://www.benzinga.com/markets/esg/24/03/37914506/bidens-475m-for-mining-aims-to-power-communities-hit-hardest-by-our-evolving-energy-landscape">program</a>), seems like an optional decision during such times.
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Also read: <a href="https://www.benzinga.com/news/24/03/37923760/cleveland-cliffs-secures-575m-for-renewable-powered-steel-production-critical-for-the-industrial-mig">Cleveland-Cliffs Secures $575M For Renewable-Powered Steel Production Critical For &#8216;The Industrial Might Of The United States&#8217;</a>
Photo: Unspalsh