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ArcelorMittal SA’s shares soar with bump in earnings expected

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SA’s biggest steel producer benefits from higher global steel prices due to supply-chain issues

SA’s biggest steel producer ArcelorMittal SA is expecting a bump in its headline earnings after racking up losses for most of the past decade.

Higher global steel prices boosted Amsa in its 2021 year as worldwide supply-chain snarl-ups cut supplies, and now says headline earnings per share will jump 17% to 26% to between R2.61 and R2.81 for its six months end-June...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

 

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MARKET WRAP: JSE and rand weaker as investors digest inflation lurchArcelorMittal bucks the trend with 16% advance after steelmaker says it expects profit bump
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