Companies / MT
AMSArcelorMittal S.A. (MT) in our theses
ArcelorMittal S.A. appears in one of our theses. Below is why it entered the basket and how it has done since publication.
Europe Erects a Steel Wall: Import Quotas Halved, Tariffs Jump to 50%, and Starved Smelters Reclaim Market Share
The EU closes its steel market: import quotas cut by half, 50% tariffs, and CBAM push out foreign metal, channeling recovered volume and pricing power directly into depressed smelter margins.
Why this company: Largest steelmaker in the EU with ~50% of earnings generated in Europe. Primary beneficiary of import displacement and domestic HRC price premium recovery, trading at a depressed multiple of tangible assets.
Where these numbers come from
The reference price is recorded on the thesis publication date and never changed afterwards. The current price is refreshed several times a day. Returns are in the listing currency and exclude dividends, so for dividend payers the real total return was somewhat higher.
This is not a recommendation to buy or sell. A company enters a basket as a beneficiary of the mechanism described in the thesis, and the full argument is on each thesis page.
See all of our theses
Each with a publication date, a causal map and a score assigned before the market ruled.
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