ArcelorMittal sees signs of virus low point as lockdowns ease

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 US, including restarts at auto plants is “a good start,” CFO Aditya Mittal said.