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Key Indicators US Steel Investors Should Track in 3Q17

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Part 9
Key Indicators US Steel Investors Should Track in 3Q17 PART 9 OF 9

ArcelorMittal: Better Days from Higher European Steel Production?

Steel production

According to data released by the World Steel Association, global steel production was 143.2 million metric tons in July 2017, which is 6.3% higher than the corresponding month last year. In the first seven months of 2017, global steel production has risen 4.6% YoY (year-over-year).

ArcelorMittal: Better Days from Higher European Steel Production?

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Europe

Steel production in the European Union rose 3.9% YoY in July to 13.6 million metric tons. In the first seven months of 2017, EU steel production rose 3.9% compared to the corresponding period last year. ArcelorMittal (MT) gets 50.0% of its revenue from Europe (EWU) (UKX-INDEX). U.S. Steel Corporation (X) also has operations in Central Europe. Nucor (NUE) and AK Steel (AKS) get most of their revenues from the US market. Rising steel production in Europe is positive for ArcelorMittal.

Asia

India’s steel production rose 3.5% YoY in July. It rose 5.4% YoY in the first seven months of 2017. South Korea’s steel production rose 2.3% YoY in July. Japan’s steel production registered a YoY fall in July. In the first seven months of 2017, Japan’s steel production fell 0.20% compared to the corresponding period last year. Russia’s steel production also fell YoY in July. Its steel production fell 0.50% YoY in the first seven months of 2017.

Higher global steel production is also supporting raw material prices. In an upcoming series, we’ll look at the dynamics of steel’s raw material markets.

Be sure to check out A Comparative Analysis of Steel Companies’ Leverage to see how various steel companies are managing their leverage ratios.

You can also visit our Steel page for ongoing updates on this industry.

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