ArcelorMittal Suspends Dividend, Drop Global Steel Outlook
- Steelmaker pulls global steel guidance over virus uncertainty
- Company said some of its customers are restarting production
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ArcelorMittal withdrew its closely watched global steel guidance because of the coronavirus pandemic, but sounded a relatively upbeat tone as lockdown restrictions start to ease.
While ArcelorMittal likened the suddenness of the virus impact to the global financial crisis, it looked forward to economies reopening. A recovery in Chinese demand, coupled with easing lockdowns in some parts of Europe and the U.S., including restarts at auto plants is “a good start,” Chief Financial Officer Aditya Mittal said.