India's steel giants to focus on product mix, quality to take on ArcelorMittal [Reuters]
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Source: Reuters
India's steel giants to focus on product mix, quality to take on ArcelorMittal | Reuters 3 Min Read MUMBAI (Reuters) - India’s two biggest private sector steel companies JSW Steel Ltd and Tata Steel Ltd are banking on their diversified product mix to take on steel giant ArcelorMittal SA as it gears up to enter the country. In October, creditors of bankrupt Essar Steel India approved a 500 billion rupee ($6.9 billion) joint offer by ArcelorMittal and Japan’s Nippon Steel & Sumitomo Metal for Essar’s assets, paving the way for the first major foreign bets on steel manufacturing in India. Both JSW Steel and Tata Steel, during separate meetings with media on Tuesday, said the entry of the global giant in India’s fast growing steel market would be good for competition. However, the companies said their customer relationships, array of value-added products and customisation would help them retain and grow market share and take on competition. “Obviously from Tata Steel point of view, we wil
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News
- ArcelorMittal S.A.: ArcelorMittal announces the publication of its first quarter 2024 sell-side analyst consensus figuresGlobeNewswire
- ArcelorMittal S.A.: ArcelorMittal publishes its 2023 Integrated Annual ReviewGlobeNewswire
- U.S. Department of Energy announces financial support for ArcelorMittal's anticipated World-Class Electrical Steel facility in Alabama [Yahoo! Finance]Yahoo! Finance
- ArcelorMittal S.A. (NYSE: MT) had its "hold" rating re-affirmed by analysts at Deutsche Bank Aktiengesellschaft. They now have a $31.00 price target on the stock, down previously from $34.00.MarketBeat
- ArcelorMittal's Irina Gorbounova Joins CHAR Tech Board of Directors [Yahoo! Finance]Yahoo! Finance
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- MT's page on the SEC website