BRUSSELS - ArcelorMittal, the world’s largest steelmaker, cut its demand forecast for its key markets on Thursday and said it was facing the twin challenges of lower steel prices and reduced consumption in Europe.
“Our first quarter results reflect the challenging operating environment the industry has faced in recent months.” Chief Executive Officer Lakshmi Mittal said in a statement. ArcelorMittal increased its growth forecast for 2019 global apparent steel consumption, which also reflects changes in inventory levels, to 1.0-1.5 percent from its February guidance of 0.5-1.0 percent.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
European markets seen higher as investors monitor earnings, US jobs dataEuropean stocks are set to open slightly higher Friday morning as investors digested fresh corporate earnings and looked ahead to payrolls data out in the U.S.
Source: CNBC - 🏆 12. / 72 Read more »
BOJ's Kuroda: Price stability is key to market trust in yenBank of Japan Governor Haruhiko Kuroda said on Thursday the biggest factor defin... Not much stability in BTC, but we TRUST it because it is not Gov money, printed out of thin air infinitely. Each new unit of debit adding interest to the national debt etc... Enough said!
Source: Reuters - 🏆 2. / 97 Read more »
Gundlach says stock market still in a bear market, sees high chance of tariff hikeJeffrey Gundlach of DoubleLine says stocks continue to behave like they’re in a bear market and that there’s a more-than-50% probability the U.S. raises tariffs on Chinese goods, escalating the trade conflict. Still? I must have missed that memo The next right call he makes will be the first one he’s made in years. But yeah, let’s keep putting him on TV and getting his thoughts.
Source: MarketWatch - 🏆 3. / 97 Read more »
IBM scored a key cloud deal that gives it more credibility in a market that CEO Ginni Rometty believes will be worth $1 trillionIBM has signed an agreement with Vodafone Idea, one of India's biggest telecom operators, that could help it catch up with cloud computing rivals.
Source: BusinessInsider - 🏆 729. / 51 Read more »