ArcelorMittal hit by weather woes in US
May 09, 2014 | 04:50 PM
CHICAGO Harsh winter weather in North America has cost ArcelorMittal SA $350 million so far in 2014 and forced the steelmaker to focus its efforts on contract rather than spot business in the first quarter, executives said May 9.
The Luxembourg-based steelmaker took a $200-million hit from weather in the first quarter and has seen the number balloon by another $150 million in the second quarter, chief financial officer Aditya Mittal said during an earnings conference call, citing production and supply chain issues, as well as a "spike" in natural gas prices and gas distribution costs for the companys facilities in northwest Indiana.....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.