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Arcelor Mittal: cyclical empire
Ideas in Developed Markets

Arcelor Mittal: cyclical empire

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Emerging Value
Feb 06, 2023
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Emerging Value
Emerging Value
Arcelor Mittal: cyclical empire
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Summary

  • Largest steel company with a global footprint

  • Cheap on a normalised basis

  • Expanding into growth regions in India and Latam

  • Deleverage complete, tuck in acquisitions from now on

  • Aligned allocators who learned from past mistakes

  • To buy on a temporary pullback

  • Maybe some typo in

It is a very complex company, and I only intend to give the big picture, beca…

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