ArcelorMittal cashes in on increased steel demand — and Trump’s tariffs
London — ArcelorMittal was already enjoying its best run in years as the world’s biggest steel maker cashed in on resurgent demand and a sharp fall in Chinese exports. Then along came US President Donald Trump and business got even better. For years, the Luxembourg-based producer has been decrying unfair trade conditions in its key markets of Europe and the US. Now, US tariffs have slammed the door shut on cheap steel imports, leading to the highest prices in years. This has built on an already tightening market as China closes surplus plants and demand booms across the globe. The impact on ArcelorMittal, which has struggled for years in a pressurised industry, are clear to see. The company reported its highest quarterly profit in seven years on Wednesday and said it expects global demand to grow faster than previously expected, both overall and in its most important markets. "We have a strong US exposure, clearly we are a net beneficiary of the trade actions," said CFO Aditya Mitta...
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